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I am a seller in Utah. My home is under contract. The
I am a seller in Utah. My home is under contract. The appraisal is scheduled for tomorrow. I found today that the buyers found out from the lender who the appraiser is, called him, and discussed thing… read more
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I need help on the appraisal value of condo in Medford MA. I
I need help on the appraisal value of condo in Medford MA. I want to know if the home will likely appraise lower than the purchase price in which case we may end up needing more cash.My agent wants to… read more
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Barrister
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My parents died last year and they set up a trust of which
Hello. My parents died last year and they set up a trust of which my brother is executor. We are selling the house, which is on one parcel of land, (1.27 acres), and another vacant lot, (separate but … read more
LegalGems
LegalGems
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Buyer's offer accepted early Dec, 2016. Seller traveled to
Buyer's offer accepted early Dec, 2016. Seller traveled to CA from SC to empty house of furniture & contents. Flew to CA on Dec 15, 2016. Buyer set close for Jan 7 2017 (3 wks) Requested 45 days to cl… read more
Ray
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This is not really a legal question but I'm sure a
This is not really a legal question but I'm sure a lawyer could answer it, I don't see any realtors on this website. How is it that everyone knows exactly what a house is appraised for by the mortgage… read more
CalAttorney2
CalAttorney2
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What does the appraisal contingency in this contract mean? I
What does the appraisal contingency in this contract mean? I ordered my own separate appraisal from the bank within 2 days. The bank will do their own at some point. Would mine count in the contingenc… read more
Attyadvisor
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Doctoral Degree
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Good Morning, I have another small deal going on that has
Good Morning, I have another small deal going on that has been really a learning experience, one I do not wish for any one to have to go through. This one is a small home selling for 98,000.00. Howeve… read more
Barrister
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Chase mortgage lender did not fully approved a loan for my
Chase mortgage lender did not fully approved a loan for my clients. My buyers were told that they were approved. When the loan went to underwriters, my buyers were told that the appraiser who did the … read more
Barrister
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In Michigan, are allowances in real estate contracts illegal/unlawful,
In Michigan, are allowances in real estate contracts illegal/unlawful, and if they are NOT illegal/unlawful, is there any kind of legal limit?… read more
Alex J. Esq.
Alex J. Esq.
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I entered into a contract in the sate of NC to purchase some
I entered into a contract in the sate of NC to purchase some land for $39,900. The appraisal came back lower than the sales price. We want to cancel the contract. Are we still obligated to go through … read more
LegalEase101
LegalEase101
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Are we required to disclose an offer from an enviromental agency
Are we required to disclose an offer from an enviromental agency such as Open Space in California? Our property is designated wetlands and we negotiated with Open Spaceto sell it to them, but their of… read more
N Cal Attorney
N Cal Attorney
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I am in the process of purchasing a home in PA via FHA loan.
I am in the process of purchasing a home in PA via FHA loan. The appraisal is 2k less than the sale price, there is an FHA clause in the sales agreement I signed, can I back out and still retain my ea… read more
LegalKnowledge
LegalKnowledge
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I have been trying to sell my house. The asking price was 65,000.
I have been trying to sell my house. The asking price was 65,000. I gave the buyer 5k back because the roof will need to be replaced. I was told that I should pay 3500k of his closing closts. The home… read more
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If a contract specifies that time is not of the essence and
If a contract specifies that "time is not of the essence" and the contract is contingent on appraising for sales price and states the buyer has 15 days from ratification to get property appraised - an… read more
David L
David L
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1,604 satisfied customers
I am under contract for a beach front property in Boca Raton..and
I am under contract for a beach front property in Boca Raton..and I am the buyer... the appraisal came in lower that our sales price agreement... Question- Am I obligated to continue the contact at th… read more
Loren
Loren
35,884 satisfied customers
My Question is does the state of georgia allow for the assignment
My Question is does the state of georgia allow for the assignment of contracts. Through realestate by using investors purchase agreement. Basically, by using the purchase agreement to lock up the prop… read more
Maverick
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Is an addendum that says buyers must forfeit their earnest
Is an addendum that says buyers must forfeit their earnest monies "if the home fails to close for any reason" valid? The house appraisal was $14,500 lower than the asking price but the seller wanted t… read more
Roger
Roger
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Doctoral Degree
26,979 satisfied customers
Is it legal for a VA lender to issue a Notice of Value (NOV)
Is it legal for a VA lender to issue a Notice of Value (NOV) at contract price ($350K) on a 100% financed Single Family residence, based on a VA approved appraiser with the new pool process, the mortg… read more
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Meet the Experts:

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LawTalk

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P. Simmons

P. Simmons

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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