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Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
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I have an accepted offer to purchase a home. The loan process is going smooth. The appra

Customer Question

I have an accepted offer to purchase a home. The loan process is going smooth. The appraisal came back $45,000 less than the purchase price. I am requesting a 2nd appraisal to be completed. The selling agent, has put the home back on the market. Even though we have a legal binding contract - Shouldn't the agent state that "back up offers" are being accepted. I do not want to lose out on this home, however I would like another appraisal to see if the opinion of value is higher.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Richard replied 1 year ago.
Hi! My name is ***** ***** I look forward to helping you!
Can you provide me a bit more information? Does the contract have contingency language regarding the appraisal value of the property? Is there a financing contingency? If so, can you provide me the specific language in the contract? Thanks.

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