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Appraisal problem

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fabianoporta Joined: 27 Feb 2009 Posts: 11 4.17 Dollars($)	Posted: Fri Sep 11, 2009 1:06 pm    Post subject: Appraisal problem Consider this situation: I signed a contract buying a property for 170k. The appraisal was done after 2 months and appraised for 120k. The bank does not approve the amount... What happen to my contract? The seller will must low the property price in order to sell me?
sunnyca2009 Joined: 04 Aug 2009 Posts: 1737 36.13 Dollars($)	Posted: Fri Sep 11, 2009 5:34 pm    Post subject: In situations like these, you cna go back to the seller and ask if he or she is willing to lower the price to meet the apprisal numbers. if they do nto agree then you cna cancel the contract One of my frinds had the same situation and the seller lowered the price based on new apprisal. But the differerence in the apprisal was not as much as yours

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