- Find a Real Estate Professional
- Realtors®
- Mortgage Lenders
- Home Improvement Pros
- Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- Popular
- Real Estate Market Reports
- More
Answers (5)
- Rudi Hofmann, "LUXURY HOME LOANS CA"
- Contributions:7435
You are welcome GG. Good luck!
Happy funding, Rudi
Happy funding, Rudi
- Gettysgirl
- Contributions:15
Thanks, Rudy! We will definitely point out that appraised values will continue to go down with all of the foreclosures when negotiating with our builder. Thank you so much for the advice!
- Rudi Hofmann, "LUXURY HOME LOANS CA"
- Contributions:7435
GG,
That is unfortunate. A buyers agent could have played a prominent role in this situation.
The lower appraisal is what lenders will use for value. Again, I suggest you negotiate. Very few properties are currently being purchased above their appraised value. Michigan is a state that has one of the largest percentages of distressed properties. As more foreclosures are sold, appraised values may continue to go down. You may want to remind your builder of this fact in your negotiating process.... Good luck.
Happy funding, Rudi
That is unfortunate. A buyers agent could have played a prominent role in this situation.
The lower appraisal is what lenders will use for value. Again, I suggest you negotiate. Very few properties are currently being purchased above their appraised value. Michigan is a state that has one of the largest percentages of distressed properties. As more foreclosures are sold, appraised values may continue to go down. You may want to remind your builder of this fact in your negotiating process.... Good luck.
Happy funding, Rudi
- Gettysgirl
- Contributions:15
Rudy, we've been working directly with the builder.
- Rudi Hofmann, "LUXURY HOME LOANS CA"
- Contributions:7435
Are you working with a buyers agent or just the builder? A buyers agent could get this resolved. If I were you, I would state that your buying decision was based on the original appraisal. Any amount more than that is unacceptable. Negotiate. ... Good luck.
Happy funding, Rudi
FHA Appraisal Appeal?
Does anyone have experience with this appeal process? If so, does it normally come out in favor of the homebuyer? The next 10 days waiting for the answer from FHA is going to be torture.
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.