Asked by John, Olney, Philadelphia, PA • Fri Mar 12, 2010
We have a 3 bedroom 1 bath house (1800 sq ft), Single detached house with detached two car garage for sale on a triple lot approx 9000 sq ft) .
Realtors told us we could â€œeasilyâ€ get $150,000
Two houses on the street behind our house are comparable sold last summer for $150,000 (1500 sq ft & 4400 sq ft lot) and $146,000 (1365 sq ft & 3600 sq ft lot). Another house sold in the fall for $135,000 for a smaller house (1500 sq ft) and on a single lot (3300 sq ft). Our house has more square foot and our property is 1 to 2 times larger. All homes are in about the same condition.
We had an independent appraiser come in with $152,000 on the property in late Dec 2009.
Buyer had an FHA appraisal (1/5/2010) for $132,000 - $20,000 below the independent appraisal.
Do conventional Mortgage lenders use the FHA Appraisal?
Can we sell the house for $150,000 â€“ get the buyer to get a $132000 first FHA loan and give the buyer a 2nd? We have 2 interested parties.
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