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VA APPRAISAL - TIDEWATER

Appraiser has invoked Tidewater as value will be coming in lower then the purchase price.  Question:  can the buyer collapse the deal with this knowledge now upfront, or must we sit and wait for the appraisal to be done? 
thanks, Maggie

  • February 17 - Tucson
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Answers (3)

Profile picture for HomeSweetTucson
If you feel the appraisal is in error, you can fight for the deal by submitting your own comparable sold listings to the appraiser. If your buyer wants to walk away, you can do so...read the appraisal contingency clause in the contract.
  • August 12
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You as a buyer have a contingency period spelled out on your Purchase Agreement. If you are within that period of time, by all means you can kill the deal and walk away unscathed.
  • February 17
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Maggie,

Depending upon how the contract was written, as each situation is unique, if you are NOT able to attain financing with the current deal in place, you might have the option to cancel and get your earnest money back. There are other options first, such as, request in a price reduction from the seller and/or submitting comps to the appraiser to re-evaluate the valuation.
  • February 17
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