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julz33
i run for bacon
Member since 5/05 20584 total posts
Name:
julz
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So relieved!
We got the appraisal back on our house. I was so nervous because the buyers are using an FHA loan, putting minimum downpayment, and asking for almost 5% in sellers concessions. Well, it appraised high enough to cover the extra 5%!  Now we canmove ahead with the sale.
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Posted 6/24/10 12:07 PM  |
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LisaW
Time for me to FLY!
Member since 5/05 13199 total posts
Name:
Did I ever tell you that I hate people?
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Re: So relieved!
I was looking for the "like" button 
congrats!
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| Posted 6/24/10 12:14 PM |
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Goobster
:)
Member since 5/07 27557 total posts
Name:
:)
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Re: So relieved!
Can you tell me what is a seller concession?
Glad to hear it's going smoothly!!! That is awesome!
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| Posted 6/24/10 12:18 PM |
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julz33
i run for bacon
Member since 5/05 20584 total posts
Name:
julz
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Re: So relieved!
Posted by Goobster
Can you tell me what is a seller concession?
They are asking for 5% of the mortgage amount to be given to them at closing for closing costs and probably some more left over. So the house had to appraise for this amount higher than the purchase price.
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| Posted 6/24/10 12:22 PM |
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randella
Love my little man
Member since 8/05 16290 total posts
Name:
Randi
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Re: So relieved!
great news-- how long after the appraisal took place did you find out what it appraised for?
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| Posted 6/24/10 12:32 PM |
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julz33
i run for bacon
Member since 5/05 20584 total posts
Name:
julz
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Re: So relieved!
Posted by randella
great news-- how long after the appraisal took place did you find out what it appraised for?
2 days
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| Posted 6/24/10 12:40 PM |
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