ST Alpha - "Interesting twist in our attempt to buy a house in Didsbury." (Reading a Post)

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Interesting twist in our attempt to buy a house in Didsbury.

Posted by Subversive Aug 2 '09, 13:05

The house we liked came back from the appraisal at $40,000 less than we had agreed to purchase it for ($330,000 vs $370,000). So, obviously the bank has said it will only approve our financing for the appraised value of the house. We have left a message with the seller saying "sorry, but do you want to sell it to use for $330,000?". Awaiting her call back, but this could work out very favourably for us!

Responses:

yeah, i have a few friends that this happened too. - tRuMaN Aug 2, 14:45
this appear to be happening to a lot of people -- nm - Epiphany Aug 2, 13:48
Did they say why the appraisal was so far below the contract price? - Stewie Aug 2, 13:27 3
- They showed comparable sales in the area. The appraisal is probably right on, to be honest. - Subversive Aug 2, 14:20
- "The Indiana burial ground on which it rests reduces the value." -- nm - Appraisal Aug 2, 13:38 1
  - All those damn Jones' buried there. *The whip crack nm.* -- nm - H-Mogul Aug 2, 13:58
Byers market vs. Sellers market -- nm - Danedukenuuk Aug 2, 13:20
"Hey, our bank is being a giant dick, so they're forcing us to have to ask for a lower price. So sorry." -- nm - Beryllium Aug 2, 13:11
good luck to you! -- nm - CQ Aug 2, 13:10
Fingers crossed!! -- nm - MojaveMeg Aug 2, 13:08

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Interesting twist in our attempt to buy a house in Didsbury.

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