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Post by gardenwitch on Apr 27, 2012 19:10:29 GMT -5
Dear Lonestar Properties (otherwise known as seller)
Stop trying to dick a fellow Texan around (Dh), NOBODY is going to give you 282,000 in CASH for a home that doesn't appraise that high, not in this market, no way, no how. And if you honestly had that offer on the table when you accepted our offer, you truly are stupid.
Either meet the appraisal or we walk.
Signed,
The person who is going to take a baseball bat to someone's head before the day is over.
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Post by Deb on Apr 27, 2012 19:31:02 GMT -5
Wait!
They accepted your offer and are now trying to get more money out of you???
I would report it to the the CA realtor licensing board.
Who is marketing the property?
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Post by ncnative on Apr 27, 2012 19:37:04 GMT -5
Would you really walk?
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Post by gardenwitch on Apr 27, 2012 21:10:14 GMT -5
The lender (bank) thinks the appraisal is going to come in lower than our offer (and much lower than his asking price) so they don't want to pay for it. Which means we take a chance and pay for it ourselves. Comps are iffy, the house has been upgraded, BUT there's a discrepancy in the Sq ft.
Original says it's 1900 sq ft, seller says it's 2100..... if it's 2100 sq ft we are ok, if it's 1900 we aren't and would lose the money we pay for the appraisal. Seller is refusing to budge if the appraisal comes in low, telling our realtor he has a CASH offer of 282,000 if we don't buy at our offer (he obviously just thinks we are desperate and will cough up some cash above the appraisal amount to get the house)
So yes, I will walk, nothing I hate more than being jerked around by a Texan. I have WAY too many of them damn Texans in my life as it is...snort.....
I'll take that money we would have to pay for the appraisal and put it as a deposit on a brand new solar house.....WAY less games. Even if I do have to pay Mello Roos, our mortgage would be about the same.
The seller bought the house at auction, he's marketing it (he's a real estate agent, but not OUR agent)
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Post by Deb on Apr 27, 2012 22:55:42 GMT -5
The guy is tripping if he accepted your offer, he's committed to you. What does your offer to purchase say?
Does it say contigent on appraisal?
FYI, I've always had to pay for the appraisal fee when getting a mortgage. I didn't have to pay it up front, but it was part of the closing costs.
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Post by gardenwitch on Apr 28, 2012 11:38:05 GMT -5
I think the appraisal was rolled into the costs, with the bank paying it upfront and then recouping it with the closing? I'm probably confused on that. I thought we were paying closing costs.
The offer is contingent on the appraisal and inspection.
He's asking 274,000, we offered 265,00, but nobody thinks the appraisal will be 265,000.
I'm fairly sure he's trying to bluff us into coughing up some cash above the appraisal to get the house.
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Post by ncnative on Apr 28, 2012 14:14:28 GMT -5
You really need to know the accurate square footage. If you can find that out and the going price per square foot you can figure how much it's going to appraise for. How many sq ft does the tax record say it has?
OK, the GIS listing says it's 1955 sqft. Unless there was an addition made without getting a permit, that is still the accurate square footage. I wouldn't waste the money on an appraisal.
I'd be a little worried about erosion/slippage on that lot too.
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Post by gardenwitch on Apr 28, 2012 15:39:36 GMT -5
There's no additions/changes other than the downstairs bedroom was converted to an office but that doesn't add 200 sq. ft to the house in any way, shape or form! It just isn't there.
The seller is just smoking crack and doesn't know how to measure a house is what I'm going with!
We are heading out to look at some new homes, I don't have the patience to deal with the resale market and greedy jerks. I want to pick my house, put down the deposit and be off and running.
Going price per sq foot in that area is about 130.00 x 1955 =254,150. Over 10g below what we offered and 20,000 below his asking price.
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