If the seller can justify the price with correct comps....the buyer brings cash to the table.
The gaming of the appraisal process has reached such incredulous proportions that the home seller must be prepared. In that preparation, the buyer MUST be qualified to buy the home at the negotiated price.
The purpose of the appraisal, (you don't get to see the RULES the bank impose on the appraiser) is to make sure the bank can sell the note to an investor. The purpose of underwriting is to create a firewall so the bank will not, at some future time, be required to 'buy back' the note. That IS the game.
I know....we all tend to think is has something to do with establishing the 'value' of a home.
A willing seller and able and willing buyer establish the value. What you are experiencing is a continued violation of that process. The buyer, must be prepared to bring cash to the table in the event a appraisal comes in low or should not be considered a qualified buyer for the home at all.
The buyer, however, often views this as a new negotiation opportunity based on the interference of a third party.
Best of success to you,
Annette Lawrence. Remax Realtec Group
Palm Harbor, FL