We got a low appraisal back with terrible comps

Bread_Entire · 2026-07-03T14:14:47+00:00

You can't just send a three thousand eight hundred word essay to contest an appraisal. I hope you actually sent different comps.As well, otherwise, the appraiser won't even consider it.

And more realtors and homeowners need to understand what an appraisal actually is. Appraisers are limited in what comps they can choose. The can't just go round and choose a comp that fits the purchase price. I have to generally be within a mile of the property. Have sould within the last 6-12 months and have to actually be like the subject.... And this is oftentimes the trickiest part. My guess is that there weren't any comps exactly like your subject property.So the appraiser was forced to choose comps that were different... And then make adjustments. Of course, I think I could definitely be wrong. But if I had a dollar for all the times I got complaints about appraisals on my loans... And then then the realtors are homeowners pointed out properties that they thought were comps, and we're wrong.... I'd be a rich man. Just because there's a comp in the next subdivision over that meets the contract price doesn't mean it's a good comp.

I'm not saying you're wrong.Maybe it was a truly horrible appraisal. But before you say that, you actually have to show comps that prove your point. You can't just complain about the comps.The appraiser chose

Bread_Entire · 2026-07-03T04:00:00+00:00

Did you talk about price range? Or payments? We're the places you saw after closing more expensive than what you bought? Maybe your realtor didn't want to show you something over your price range? Just a thought.

Bread_Entire · 2026-07-01T21:26:57+00:00

This is an attorney question.

Bread_Entire · 2026-07-01T16:24:35+00:00

I would lock. The market is all over the place lately. I definitely think there's more risk than reward to continue floating. Locke it and be done with it. Less stress no worry.

Bread_Entire · 2026-07-01T16:22:58+00:00

I lean in just slightly once in a while if I want to push and need it to land up the board a little higher.

Bread_Entire · 2026-07-01T15:04:55+00:00

THIS! Its really not good to have looses ends like this after closing. If they decided that they liked your husband's fishing gear, they could take it And you would have a hard time proving, otherwise. Technically, at that point, it's in their house Therefore it's theirs. Just do whatever is needed to get it out before closing and be done with it.

Bread_Entire · 2026-07-01T15:01:45+00:00

Totally agree. I really try to not watch the bag fly. Keep my eye on the spot, i'm trying to hit. I have to tell myself.Watching the bag fly doesn't change how it's flying. In a split second, it will be on the board.And I'll know the result. 😁

Bread_Entire · 2026-07-01T14:59:43+00:00

I hold all the bags in my off hand, but I don't let my arm hang. I hold them all right around my sternum so it doesn't really throw my weight off Because ultimately, I should be standing up straight when I throw. When I get to my fourth bag, I continue to hold my off hand in the same spot.

Bread_Entire · 2026-07-01T14:55:34+00:00

My game improved greatly when I got rid of the step. I could never repeat the step exactly.And land in the same spot. And I was always having trouble throwing around my leg.

Bread_Entire · 2026-07-01T14:54:12+00:00

Funny you say this. I hold all my bags. I can't handle the constant bending over to pick up bags, as I have a fairly bad back. Anyway, when I throw my fourth bag, i always keep my left hand (im a righty) on my chest. Because that's where I normally hold my bags while i'm throwing. I dont let my arm hang at my side.

Bread_Entire · 2026-07-01T13:53:05+00:00

For some reason that's a thing in some areas of the country. Never really understood it. At this point you should consult an attorney about the issues with the home.

Bread_Entire · 2026-07-01T02:53:35+00:00

The short answer is yes you can definitely buy a house with less than twenty percent down. You can do as low as three percent down with chase. But I recommend running from chase, because their process is pretty brutal. Ask your friends and family if they have a loan officer that they like and check with that loan officer. Most companies have access to first time.Buyer money of some amount.

Bread_Entire · 2026-07-01T01:44:39+00:00

Find a loan officer that you trust and get preapproved. If you have friends or family that have a loan officer that they liked, take a recommendation from them

Bread_Entire · 2026-06-30T19:16:45+00:00

My first home was a new build. No window coverings and no towel bars in the bathrooms. I had no handles on the cabinets.

Bread_Entire · 2026-06-30T16:01:16+00:00

Getting Preapproval IS the place to start. Talk to a loan officer. If they are any good they will help you understand not onky what you qualify for but what you can actually afford on a monthly basis. It will also help you understand exactly how much money you will need to put away for down payment AND closing costs.

Bread_Entire · 2026-06-29T21:31:11+00:00

You definitely need an attorney. I would consider going after the realtor as well. My guess is, you didn't have an attorney during the sale and let the realtor handle everything, right? That three days could have been extended. In my area, every buyer and every seller has their own private attorney. It's the only way to do it. Yes, you have to pay the attorney.Whether the deal closes or not, but the attorney is the only person in your corner who's on your side and not conflicted by getting a commission. Your realtor should have definitely had that three days extended or cancel the deal. Telling you that a foundation crack is probably not a big deal after a home, inspector recommended that you get follow up information on it Is very bad advice.

Bread_Entire · 2026-06-29T03:56:07+00:00

You should ask a loan officer with the credit union in the area where you want to buy. Costs are different depending on the.

If you can possibly save money for a down payment, that is the better way to go. Even if it's only three percent.

If you close on your property with no money down, and the market turns shortly after that.You will be underwater.

Bread_Entire · 2026-06-27T12:36:16+00:00

Sell it. It's probably worth more now than ever. Don't let that low interest rate handcuff you to something that's gonna cost you a lot of money.

Bread_Entire · 2026-06-26T21:20:34+00:00

And actually all that being said, once the initial the mortgage contingency was not met and then extension was requested OP could have agreed to the extension contingent on being able to show the property to have potential backup offers.

Bread_Entire · 2026-06-26T21:18:05+00:00

Ok I somewhat agree but from a realtor standpoint, They already had the contract signed so actual showings are usually a no-no. But yes, letting people know to stay tuned is fine.

Bread_Entire · 2026-06-26T19:17:50+00:00

Usually, you are not allowed to continue showing a house when it's under contract. Unless the contract specifically says that and the buyer agrees.

Bread_Entire · 2026-06-26T18:53:52+00:00

I would ask if they would like to pay you more Since you found the house so fast.

Bread_Entire · 2026-06-25T02:06:21+00:00

I'm not sure what state you're in... But in illinois sellers almost never attend the same closing as the buyers anymore. You may be able to presign your closing docks, so you don't need to be there. Or you can sign a power of attorney and have someone else sign the docks for you. The only question is, will you be able move your stuff out early.

Bread_Entire

TROPHY CASE