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Home Selling in Shawnee Mission : Real Estate Advice

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Wed Feb 17, 2010
Robin Silverberg answered:
I am not sure about voiding the contract, but if the house does not appraise you may not be able to get the loan that you were supposed to. The amount of the loan you need should be referenced in your contract, so therefore you should be able to get a denial from a lender and get your earnest money back. On an FHA loan, there is a form that needs to be signed by all parties that references the fact that the house must appraise for the selling price. This is the Amendatory clause that should be included in your contract if you are using an FHA loan. ... more
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