Sentences with phrase «lower than the appraisal»

We're actually pricing it lower than our appraisal in hopes of a quick and low - stress sale!

Not exact matches

For one thing, official appraisals of industrial properties tend to be low, and certainly less than their best alternative use.

This Fried Frank memo reviews recent Delaware appraisal decisions and identifies situations in which Delaware courts are likely to make awards that are lower than the deal price — as well as those in which it isn't.

At the very end, they will increase the rate because the appraisal came in lower than anticipated (or whatever other reason they can find).

If the appraisal comes in lower than the amount you've agreed to pay, there's a problem.

Although the underwriting fee of $ 99 is somewhat lower than the average for mortgage lenders as a group, you'll probably find that other closing costs like the origination fee and appraisal fall in line with the norm for direct lenders.

Pre-approvals come with the proviso that they are financing approvals in principal only; they can be revoked by the lender if they are perceived to be a bad decision — if your circumstances change, or if the house appraisal is lower than the purchase price.

Here's the formula: Loan amount ÷ appraisal value or purchase price (whichever is less) For example: The home you want to buy has an appraised value of $ 205,000, but $ 200,000 is the purchase price The bank will base the loan amount on the $ 200,000 figure, because it's the lower of the 2 You have $ 40,000 for a down payment, so you need a $ 160,000 loan to meet the $ 200,000 purchase price Your loan - to - value equation would look like this: $ 160,000 ÷ $ 200,000 =.80 You multiply.80 by 100 % and that gives you an LTV of 80 % Private mortgage insurance (PMI) If your down payment is lower than 20 %, your loan - to - value ratio for conventional financing will be higher than 80 %.

If the appraisal comes in lower than the amount you've agreed to pay, there's a problem.

If the appraisal comes in lower than the purchase price, your lender will approve a loan only up to the lower amount — leaving you to decide whether you want to cover the remaining costs out of pocket or walk away from the deal.

VA Streamline Refinance (IRRRL) typically offers a lower rate for refinance, less paperwork than the original loan or traditional refinance, and may not require the additional cost of appraisal

If an appraisal comes in lower than the purchase price, the lender will require the buyer to make up the difference in cash, reduce the contract price or walk away from the deal.

Because of the declining home values we have seen over the last few years, it's common for a mortgage appraisal to come in lower than the asking price.

If the appraisal is much lower than the purchase price, you could wind up in a negative - equity situation right from the start.

If the appraisal of the property comes in lower than the sale price, the lender will probably deny the loan.

But if the appraisal comes in lower than you'd agreed to pay for the home, that could cause trouble.

You want to consolidate debt - Similar to taking cash out, if you want to pay off your high - interest - rate credit card debt with your low - interest - rate mortgage, you'll only be able to do that through a normal refinance, because an appraisal and additional underwriting is required to get a loan for a larger amount than you currently owe on the home.

When the market began heading south, property appraisals came in lower than purchase prices, and lenders refused to fully fund deals.

Assume the bank appraisal value is lower than the contractual price, and the seller and I can not make agreement for a new price, will I lose all of the...

A low appraisal can lead to a canceled sales contract because lenders won't approve mortgages for more than the home's value.

But if the appraisal comes in lower than the price you agreed to pay, you'll have some decisions to make — mainly how to make up the difference in the home price and the loan amount.

What happens if the appraisal comes back lower than your offer?

In many cases a husband will obtain a bogus appraisal that alleges that the business is worth much lower than its true value.

This is an important question because most studies conclude that women have lower levels of marital satisfaction than men and that marital appraisals have a more powerful effect on the health and well - being of older women versus men (Cohen, Geron, & Farchi, 2009; Faulkner, Davey, & Davey, 2005; Proulx, Helms, & Buehler, 2007).

The appraisal came back lower than the purchase price.

One way to protect against a low appraisal is to know the value of the house before you make an offer and make a larger down payment than you have to.

Most appraisal issues result from appraisals that come in lower than the contract price and buyers must come up with more cash.

Erin Wanner, a sales executive with Stirling Sotheby's International Realty in Orlando, Fla., told The Wall Street Journal that one of her deals fell through when an appraisal came in 40 percent lower than expected for a 7,000 - square - foot custom - built lakefront home; the home was under contract for $ 650,000 but the the appraisal came in at $ 380,000.

There is a huge shortage of inventory and even when people try to low ball new listings and then «walk» because the seller won't come down I end up hearing their cries months later that they can't find anything better than the deal they were trying to squeeze a couple K out of, and the fact that the current deals are even worse... Appraisals are slow to catch up to some of the hotter markets which is keeping prices from shooting up super quickly, but if you run some of the numbers I'm seeing values going up 20 % in particular areas over the last year.

«The national average shows appraisals lower than homeowner expectations, but some cities are bucking that trend,» says Bill Banfield, vice president of Capital Markets at Quicken Loans.

March is the fourth consecutive month of this growing trend, with appraisals 1.77 percent lower than homeowners» estimates.

The study continues to find appraised values higher than expected in the West, while it was more likely to have appraisals lower than owners estimated in the Midwest and East.

As a result of the incredibly fast market, we're seeing low appraisals, with comparable properties closing for higher prices less than a month later.

Basement space (anything below grade) can be used as an adjustment for appraisal purposes, but the value of the square footage below grade (the adjustment) is much lower than the value for above grade square footage.

Cleveland is on the low end of the scale, with appraisals an average of 2.35 percent lower than expected.

If an appraisal is lower than expected when refinancing, the homeowner will need to bring more funds to closing, or might even need the mortgage to be restructured.

Appraisals came up slightly short of owner opinions in November, 0.67 percent lower than expected, according to the latest Quicken Loans National Home Price Perception Index (HPPI).

On the other hand, there is still a wide variety of home value perceptions across the country, from Dallas, where appraisals were an average of 2.87 percent higher than expected, to Philadelphia, where the average appraisal was 2.89 percent lower than what the owner thought it would be.

Another issue: Although home prices are picking up in many markets, inventory shortages are limiting comparables, leading to appraisals lower than the contract price.

In Denver or Dallas, appraisals were nearly 3 percent higher than expected, while in Philadelphia or Baltimore, appraised values were more than 3 percent lower than what homeowners estimated.

Nationally, appraisals were an average of 1.70 percent lower than what homeowners thought they would be, as measured by the HPPI.

«A homeowner could be forced to bring more cash to closing in order to make a mortgage work if the appraisal is lower than expected.

«The fact that appraisals are showing home values nearly 3 percent higher than expected in Dallas, but the average appraisal is lower than the owner estimates by almost 2 percent in Philadelphia, illustrates this to a T. Dallas is an incredibly hot housing market right now, and appraisers are seeing just how fast home values are climbing.

This is why the appraisal will likely be lower than what the buyer offered and the lender will offer your buyer less money than they hoped for.

I have not experienced an appraisal that was lower than the offer price personally.

In September, appraisal values were 1.26 percent lower than what owners expected.

However, I am still upset about the low appraisal because I know the house is worth more than we paid for it, based on sales prices of similar nearby houses.

Once the appraisal turns out lower than the amount of the Loxahatchee short sale, the buyer will not be able to get the full amount of the loan to cover the payment for the home, making it necessary for the buyer to cover the difference with cash.

Typically though, the country appraisal for tax purposes is lower than the price paid for the property.

An appraisal lower than the agreed price can easily happen in a competitive market, where houses frequently bring in multiple offers.