Quote:
Originally Posted by disneysteve
I totally don't see a problem here. To you, the house is worth what YOU are willing to pay for it, not what some appraiser says it is worth. Clearly, you felt it was worth the price you offered or, presumably, you wouldn't have made the offer. The appraisal in no way changes that.
I'm not sure why you are concerned with the potential short-term resale value.
And of course the seller expects you to pay the agreed upon price. That's what "agreed upon" means, isn't it?
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Ditto. The bank was doing its due diligence in getting the appraisal. Whatever that number happens to be is not relevant.
The only number that matters is the one you agreed to with the seller.