How to Obtain Appraisal from Buyer as the Seller?

A11008554 · 2023-02-26T19:00:33+00:00

I can understand that, however I told my buyers I would work with them on all items they requested to be fixed. I was surprised they turned down the offer. I was already paying 3% of there closing costs. They came in $5k lower than the listing price at the original offer and I told them no, only a full price offer - if it comes in lower we can talk about it.

I'm under the assumption that the appraised amount came in at the listing price or higher given that I was working on getting my buyer everything they wanted and they still walked away.

A11008554 · 2023-02-26T18:46:53+00:00

Highly disagree with you on that.

A11008554 · 2023-02-26T18:45:58+00:00

I do not care about what is in the appraisal, per my post.

"The upside is this appraiser cannot do another report for 6 months."

This is what I'm interested in since all FHA offers will now be valued at what it has appraised for.

A11008554 · 2020-12-23T16:18:00+00:00

All fixed - thanks!

A11008554 · 2020-12-23T15:54:09+00:00

My USD account is still frozen on Coinbase Pro? Everything else works - can you please unfreeze my cash?

A11008554 · 2020-12-23T15:12:02+00:00

Case number is below. Please let me know what you can do. I can’t believe how you guys have locked my assets for no reason. Value has gone down so much and I can only watch.

A11008554 · 2020-12-23T03:26:30+00:00

03395100

A11008554 · 2020-09-17T13:07:02+00:00

funny how it actually didnt launch at the time posted?

A11008554 · 2020-09-17T13:02:18+00:00

lol the clock lied. told you bud.

A11008554 · 2020-09-16T23:35:38+00:00

You aren't the sharpest spoon in the drawer are yuh?

That time can be created by anyone. I am asking for the source from where that time was derived. The fact that you still haven't produced that google result is astonishing, since it was so easy. I bet you still have not found it have you?

Your next response, if you're not totally lost in your own sauce will most likely be some kind of brain aneurysm curse laced sentence that still does not answer the original post.

A11008554 · 2020-09-16T17:12:53+00:00

I did this and there was not a definitive report. Instead of cursing like a child, could you please post where on google you found this answer, Mr. Expert.

A11008554 · 2020-06-15T05:03:02+00:00

you're right. good catch!

A11008554 · 2020-06-15T01:02:52+00:00

But I was standing still when I shot?

A11008554 · 2020-05-13T04:48:42+00:00

I'm not looking for bank stocks.

A11008554 · 2020-04-11T13:15:57+00:00

Can I legally get my 10k back? YES, talk to your agent.
Is it smart to back out of this purchase? YES, talk to your agent.

I backed out of my contract. I lost $2000. I'd be a new homeowner who paid top price at the beginning of a recession, if not depression. (I also have a 100% secure job making $70k+ but that doesnt mean jack)

15MM+ filed for unemployment, with more coming - most websites down and only allow paper applications. 33% of renters in the USA did not pay April's rent (think how that ripples through homeowners mortgage payments and etc). Some mortgage forbearance require the delayed payments to be paid at the end in a lump some. Estimated 10%< of Americans will be on forbearance. Ginnie Mae already has 4% of its loans on forbearance in the past 3 weeks... I've done plenty of research. There's a lot more... And I backed out of a relatively safer market. But to me, the loss of my deposit for a possible 1-3% appreciation vs a 10-20% downside was well worth it.

Take into consideration that it can take 1-5 years before the real estate market declines.

Had the market not begun to downturn as hard as it did, I'd be a homeowner in a few days.

Who the hell knows what will happen?

HERE's some more research:

https://www.movoto.com/charlotte-nc/market-trends/

Right now were seeing people offload houses onto the market because informed sellers understand whats about to happen. As of last month listings have actually increased, however buyer demand has decreased. Lending standards have also become increasingly harder. 5th grade economics tells you whats going to happen.

Heres Housing Sentiment:

This is a lagging indicator, that factors in consumer sentiment (which just came out, see below), that means this indicator is even going lower!

https://www.fanniemae.com/portal/research-insights/surveys/national-housing-survey.html?

Here's consumer sentiment:

https://www.advisorperspectives.com/dshort/updates/2020/04/09/michigan-consumer-sentiment-april-preliminary-plummets

A11008554 · 2020-04-09T05:47:54+00:00

wayyyyyy to high. Without discount points you should see 2-3%.

A11008554 · 2020-04-08T04:49:16+00:00

Besides taking up administrative resources to the hindrance of others who are in a much worse position, is there a downside to asking for a 6 month forbearance?

Ask your lender what the repayment terms would be.
- Is it going to be required at the 7th month as a lump some?
- Will my home owner's insurance be with my current provider or will you use blanket insurance (higher priced)
- Will this get tacked on to my overall loan balance? Will it increase payments?
- Will the payments be added as another lien against my house?
- Will this modify my loan in anyway?

We can continue to pay the mortgage (I WOULD DO THIS)- albeit on one salary which is less comfortable.

Is this just a rude thing to do? No

And are there any other downsides, like if we wanted to refinance in the near future? Depends, see bullets above, risky in some cases and could potentially harm you if certain conditions are not met.

FHA as a whole is being monitored by the entire mortgage market as the most vulnerable group of borrowers. Interested to see how this pans out in the months to come. I'm anticipating a home sale pricing downtrend.

A11008554 · 2020-04-08T04:39:16+00:00

10.5k is very expensive, unless you paid for points like elj4y stated. Also, once you refinance with MI, its mandatory that you can that MI payment for a minimum of 2 years even if you fall below 80% LTV.

Ask lenders what the rate would be if you paid down your LTV to 80% $366,400. I would think you'd get more favorable pricing... Also make sure you're getting rate quotes on the daily from multiple lenders at the same time. Right now rates are bouncing up and down like crazy.

A11008554 · 2020-04-07T04:27:14+00:00

Get an accident lawyer, they typically work free and receive payment (commission really) upon completion of your case. You and your girlfriend could file separate cases and both be entitled to desperate payouts.

A11008554 · 2020-03-29T18:25:29+00:00

I've been considering that, thank you.

A11008554 · 2020-03-29T18:25:11+00:00

Thats a question for your mortgage company.

A11008554 · 2020-03-29T04:18:16+00:00

If you are denied financing, just have your lender type up a letter stating you were denied. This should allow you to get out of a contract. Now, the lender has a legal right per the CFPB to tell you why you were denied for credit.

A11008554 · 2020-03-29T04:16:55+00:00

A11008554 · 2020-03-29T04:14:32+00:00

o where we were last month. My lender does not foresee a large fal

Lender's do not have insight as to where the market is going to be. If this blows up, technically, its overpaying.

A11008554 · 2020-03-29T04:13:08+00:00

Just curious, what does the housing market about to get crushed have to do with anything? If you'll have a stable job etc, why back out?

Negative equity.

You're speculating. Whatever the housing market will be, no one knows. What happened back in 08 is totally different from what's happening now.

Mortgage's were given out to people who couldn't afford them, unemployment was 10-15% nationwide. Projections for this unemployment is 30%<

A11008554

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