How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Tina Your Own Question
Tina
Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
4460311
Type Your Real Estate Law Question Here...
Tina is online now
A new question is answered every 9 seconds

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: 2 years ago.
Category: Real Estate Law
Expert:  Richard replied 2 years 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.