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Nuds, Other/Just Looking in Temple City, CA

question about appraisal on REO property

Asked by Nuds, Temple City, CA Tue Apr 14, 2009

If appraisal came in alot less than what I have offer to REO peroperty, do I still have chance to renegotiate
with bank even though I am in early satge of escort? If bank refuse to negotiate can I walk away?

Help the community by answering this question:


It depends how far into escrow you are. You mentioned you are at the early stage. If you are within your appraisal contingency time period, and the appraisal is less then the purchase price, then the bank should renegotiate. You are correct, they may refuse to negotiate and you may walk away if you have not removed your appraisal contingency.
Did you end up putting an offer on the house in South Hills?

Best Regards,
Geremy Yamamoto
Century 21 E-N Realty
Web Reference: http://www.yourMLSlink.com
0 votes Thank Flag Link Tue Apr 14, 2009
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