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

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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: 22 days ago.Category: Real Estate Law
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Answered in 1 hour by:
4/3/2018
Real Estate Lawyer: KimberlyLaw, Attorney and Real Estate Broker replied 22 days ago
KimberlyLaw
KimberlyLaw, Attorney and Real Estate Broker
Category: Real Estate Law
Satisfied Customers: 4,229
Experience: 13 years of experience in real estate law: Foreclosures, Landlord-Tenant, Condo/Coop, Property Law, Deeds, Purchases/Sales, Estates.
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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

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Real Estate Lawyer: KimberlyLaw, Attorney and Real Estate Broker replied 22 days 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

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Customer reply replied 21 days 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 21 days 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
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Real Estate Lawyer: KimberlyLaw, Attorney and Real Estate Broker replied 19 days 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
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KimberlyLaw
KimberlyLaw
KimberlyLaw, Attorney and Real Estate Broker
Category: Real Estate Law
Satisfied Customers: 4,229
4,229 Satisfied Customers
Experience: 13 years of experience in real estate law: Foreclosures, Landlord-Tenant, Condo/Coop, Property Law, Deeds, Purchases/Sales, Estates.

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