Reply to What did you do as a seller if appraisal came in low

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]It all depends on the buyer.  If they are willing to pay cash to make up the difference, there is nothing to say that they can't over pay for your house.  However, no sane buyer would do that in this market.

When we got our place 4 years ago, the seller wanted $314,000.  The place only appraised for $298,000 and that's what we offered.  They declined and said it was too low.  Well a month later they came back and said they'd sell it to us for the appraised price.  We still took a hit when the market crashed.

I think you are under an illusion that you'll get a better appraisal in the spring, IMO.  [/quote]

I think it depends on area and price point. I am seeing a  lot of buyers now paying $$$$$ on homes (in the 800K-1M range) - multiple offers ten of thousands over asking price, muptiple people getting pre-offer inspection on the same house, buyers waiving contingencies all together. I am nto sure there are sane buyers left in this market[/quote]

Oh sure.  It all depends on what the buyer is willing to pay.  It doesn't sound like there is any kind of a bidding war going on in this case. [/quote]

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