Real Estate Law

Have real estate law questions? Ask a real estate lawyer.

Ask a Lawyer,
Get an Answer ASAP!

I'm am trying to buy a house I have been approved for a loan…

Customer Question
I'm am trying to...

I'm am trying to buy a house I have been approved for a loan but the builder wont sale it to me because the loan company wont appraise it for the amount he wont he has let use rent it until we close now he is trying to force me to get a loan that will appraise it for the amount he want .so he want use to move is this legial.

Lawyer's Assistant: What steps have you taken so far? Have you prepared or filed any paperwork?

Yes we have a contract and have gave our earnest money

Lawyer's Assistant: Where is the house located?

Blueisland il

Submitted: 3 months ago.Category: Real Estate Law
Show More
Show Less
Ask Your Own Real Estate Law Question
Answered in 1 hour by:
4/3/2018
Real Estate Lawyer: KimberlyLaw, Attorney and Real Estate Broker replied 3 months ago
KimberlyLaw
KimberlyLaw, Attorney and Real Estate Broker
Category: Real Estate Law
Satisfied Customers: 4,236
Experience: 13 years of experience in real estate law: Foreclosures, Landlord-Tenant, Condo/Coop, Property Law, Deeds, Purchases/Sales, Estates.
Verified

Hello, my name is ***** ***** I am an attorney. I am happy to assist.

Just a few quick questions. In your contract, do you have an option to purchase the property, or is this only a lease?

Also, if there is an option to purchase the property, does it have a purchase price listed in the contract?

Thank you

Ask Your Own Real Estate Law Question
Real Estate Lawyer: KimberlyLaw, Attorney and Real Estate Broker replied 3 months ago

Hi this is Kim again. Just checking in to see if you could answer my questions so that I can assist you further?

Thanks

Kim

Ask Your Own Real Estate Law Question
Customer reply replied 3 months ago
the house is for sale and yes the contact has s price on it my only problem is the appraisal is only for 260,000 and he’s trying to get an appraisal for 279,000.So he’s trying to get me to go with another loan company that will do the appraisal for what he wants I’m just trying to find out is that legal for him to try to get me to go away he want me too.
Real Estate Lawyer: KimberlyLaw, Attorney and Real Estate Broker replied 3 months ago
Ok so it sounds like the price you negotiated in the contract is higher than the actual value. You have three choices. You can try to renegotiate with him. He won't get that much from anyone so he may as well lower the price for you. Next, you could proceed with the higher price and either try to get another bank to agree or put in some of your own money, or you could walk away if he won't budge on the price.Let me know if you have any questions.Kim
Ask Your Own Real Estate Law Question
Real Estate Lawyer: KimberlyLaw, Attorney and Real Estate Broker replied 3 months ago
Hi just letting you know I am logged on. If you are all set with this question please accept it, positive feedback appreciated so I get credit for my work with you.Thanks so much and take care.
Kim
Ask Your Own Real Estate Law Question
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a real estate lawyerLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask KimberlyLaw Your Own Question
KimberlyLaw
KimberlyLaw
KimberlyLaw, Attorney and Real Estate Broker
Category: Real Estate Law
Satisfied Customers: 4,236
4,236 Satisfied Customers
Experience: 13 years of experience in real estate law: Foreclosures, Landlord-Tenant, Condo/Coop, Property Law, Deeds, Purchases/Sales, Estates.

KimberlyLaw is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Barrister

Barrister

Lawyer

11,963 satisfied customers

17 years real estate, Realtor. Landlord 26 years

Infolawyer

Infolawyer

Lawyer

8,255 satisfied customers

Experienced lawyer

Ray

Ray

Lawyer

8,104 satisfied customers

Texas Attorney for 30 years dealing in real estate

LawTalk

LawTalk

Attorney

6,208 satisfied customers

I have 30 years legal experience. Additionally, in CA I held a Real Estate Broker's license.

Dimitry Esquire

Dimitry Esquire

Attorney

5,526 satisfied customers

JA Mentor, multiple jurisdictions, specialize in business/contract disputes, estate creation & admin

Ely

Ely

Counselor at Law

4,998 satisfied customers

Qualified attorney in private practice including business, family, criminal, and real estate issues.

P. Simmons

P. Simmons

Lawyer

3,540 satisfied customers

12+ yrs. of experience including real estate law.

< Previous | Next >

Related Real Estate Law Questions
I signed a contact with builders to purchase a property
I signed a contact with builders to purchase a property .This property was a show model .when it came to the market I placed an offer and I would like to break the contract due to the problem with my … read more
LegalKnowledge
LegalKnowledge
Juris Doctor
30,532 satisfied customers
My Dad is purchasing a house close to us in IL. A contract has been signed, earnest monie
My Dad is purchasing a house close to us in IL. A contract has been signed, earnest monies submitted, but buyers remorse has set in. Also the house is not a fit for them or close enough to family. Ter… read more
Barrister
Barrister
Lawyer
Doctoral Degree
11,963 satisfied customers
I am purchasing a new home, I put down 10% earnest money, the
I am purchasing a new home, I put down 10% earnest money, the appraisal came in lower than the asking price. My builder said the appraisal is low because I've added to many options, and I should come … read more
Law Pro
Law Pro
Doctoral Degree
19,000 satisfied customers
We were pre approved for a mortgage, found a house, made an
We were pre approved for a mortgage, found a house, made an offer and it was accepted. We gave $3,000 for earnest money plus paid out an additional $1,000 in home inspection and appraisal fees. The sa… read more
lucy7368
lucy7368
Juris Doctor
763 satisfied customers
My husband and I put an offer on a house. The appraisal came
My husband and I put an offer on a house. The appraisal came back $5000 under the price. We asked our realtor to renegotiate to the appraised price. Or closing date is less than a week away, we have y… read more
Marsha411JD
Marsha411JD
Doctoral Degree
20,586 satisfied customers
My husband and I are selling our house by owner. Our neighbor
My husband and I are selling our house by owner. Our neighbor wants to buy our house and came to us with offer before we had actually put our house on the market. They have offered to pay our asking p… read more
Barrister
Barrister
Lawyer
Doctoral Degree
11,963 satisfied customers
I live in WA state and am under contact for a home. We have
I live in WA state and am under contact for a home. We have already had a VA appraisal for which there was work required that the seller completed. They agreed to complete all of the work that we requ… read more
Barrister
Barrister
Lawyer
Doctoral Degree
11,963 satisfied customers
I have lived in a house with a sale contract of 225K in which
I have lived in a house with a sale contract of 225K in which I gave landlord 5K as earnest money towards the purchase when we finance hm true lender. Me and my husband where approved with no problems… read more
Ray
Ray
Lawyer
Doctoral Degree
8,104 satisfied customers
Background My wife is in El Paso Texas. Moved from Michigan
Background: My wife is in El Paso Texas. Moved from Michigan for a job. I am currently in school in Michigan. We moved into a new construction house with intent to purchase with initial closing 3/31/1… read more
Phillips Esq.
Phillips Esq.
Attorney
JD
20,116 satisfied customers
I PUT UP EARNEST MONEY OF 12,6000 AND SIGNED OFF ON THE CONTINGENCY
I PUT UP EARNEST MONEY OF 12,6000 AND SIGNED OFF ON THE CONTINGENCY THE LOAN WAS APPROVED BUT MY HUSBAND FILE HIS 2009 TAXES LATE SO THERE WAS A HOLD UP THE SELLER WANTED TO PULL OUT OF ESCROW THE ONL… read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
the appraisal for the home we are trying to buy wasnt approved
the appraisal for the home we are trying to buy wasn't approved by the underwriters, the bank immediately requested another appraisal without giving us options . . .how can we get out of the contract … read more
MShore Law
MShore Law
Doctoral Degree
1,233 satisfied customers
my husband and I signed a contract to buy a spec home and gave
my husband and I signed a contract to buy a spec home and gave the builder $5000 in earnest money. we also applied for a mortgage at our local bank and were pre-approved. my husband is getting cold fe… read more
Jack R.
Jack R.
Partner
Juris Doctor
6,136 satisfied customers
In August we contracted to build a house with a builder. The
In August we contracted to build a house with a builder. The contract price was $275k. We were suppose to the close this week, but the appraisal came back at $245k, . The builder stunned, asked for a … read more
Legalease
Legalease
Attorney At Law
Doctor of Law w/ highest honors
15,719 satisfied customers
A buyer signed a contract to buy our home November 2008, and
A buyer signed a contract to buy our home November 2008, and we agreed to postpone closing until Sept. 1, 2009 with the stipulation he could move in and rent the home until that time. Now it's closing… read more
Jack R.
Jack R.
Partner
Juris Doctor
6,136 satisfied customers
I bought a new house from a developer/builder for $288,000.00.
I bought a new house from a developer/builder for $288,000.00. I put in an earnest deposit of $5,000.00 plus options(upgrade) deposit of $11,000.00. Everything went well, the house was built and my lo… read more
Phillips Esq.
Phillips Esq.
Attorney
JD
20,116 satisfied customers
I built a house starting in August 2006 using a real estate
I built a house starting in August 2006 using a real estate agent. She made sure that I put the earnest money in the builder's bank account ($33000) not mentioning that it could have been into an escr… read more
Infolawyer
Infolawyer
Lawyer
Doctoral Degree
8,255 satisfied customers
I retired and live in AZ now. I still own my home in GA.
I retired and live in AZ now. I still own my home in GA. I wanted to buy a home in AZ, but did not think I could afford to while owning in GA still. But 2 months after entering in a contract for the h… read more
Kara K.
Kara K.
Real Estate Attorney
J.D.
184 satisfied customers
I am in the process of securing a loan for our newly built ...
I am in the process of securing a loan for our newly built home. My Mortgage Broker submitted a pre-approval letter to my builder before breaking ground. Our home is now complete and my broker has inf… read more
kbmlawyer
kbmlawyer
Doctoral Degree
38 satisfied customers

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).

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).

Show MoreShow Less

Ask Your Question

x