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Shannon526 · June 2013

amyc216 · June 2013

Oh no! I'm sorry. House-buyimg is a mo-fo.

Mrs. Mo · June 2013

Ugh, I'm so sorry. I wonder if the seller's will be forced to lower their asking, though, since the assessed came in so low.

Anyways, yay to heading more up north Smile

jwls84 · June 2013

Wow, that sucks! I really hope that either the seller will lower the price or that you guys find a new house soon! I HATE house hunting!

cantalopes24 · June 2013

They don't have a choice on the price. They're not going to find an appraiser that will come up with a higher price by 20K so if they want to sell they have to lower the price. No one is going to pay the 20K out of pocket even if they have it.

Shannon526 · June 2013

cantalopes24:
They don't have a choice on the price. They're not going to find an appraiser that will come up with a higher price by 20K so if they want to sell they have to lower the price. No one is going to pay the 20K out of pocket even if they have it.

This is what I thought... I mean, I understand wanting to list your house for higher in the beginning, but not by 20k you know? Seems a bit outrageous to me.

I guess once we found that out, I took it as a sign and said forget it.. on to the next one.

cantalopes24 · June 2013

Shannon526:
cantalopes24:
They don't have a choice on the price. They're not going to find an appraiser that will come up with a higher price by 20K so if they want to sell they have to lower the price. No one is going to pay the 20K out of pocket even if they have it.
This is what I thought... I mean, I understand wanting to list your house for higher in the beginning, but not by 20k you know? Seems a bit outrageous to me.
I guess once we found that out, I took it as a sign and said forget it.. on to the next one.

I can't believe your realtor didn't go back to them and ask to drop the price. I know by me people way overlist knowing they're going to be lowballed so asking them to drop the price is the standard here.

ally510 · June 2013

I'm sorry you lost the house. Good luck with your new search. Hopefully you'll find one even better than the one you lost.

Shannon526 · June 2013

cantalopes24:
Shannon526:
cantalopes24:
They don't have a choice on the price. They're not going to find an appraiser that will come up with a higher price by 20K so if they want to sell they have to lower the price. No one is going to pay the 20K out of pocket even if they have it.
This is what I thought... I mean, I understand wanting to list your house for higher in the beginning, but not by 20k you know? Seems a bit outrageous to me.
I guess once we found that out, I took it as a sign and said forget it.. on to the next one.
I can't believe your realtor didn't go back to them and ask to drop the price. I know by me people way overlist knowing they're going to be lowballed so asking them to drop the price is the standard here.

She probably would've if we asked her to, but TBH, although we loved the house and could see ourselves living there, it wasn't truly worth fighting back and forth over. It was a nice house that would get us out of my parents' house sooner than later, but we also want to make sure that if we decide to sell the house a few years down the road, we will be able to sell it for higher than what we paid... Which I'm sure everyone wants to do.

I looked at the house's listing, and the woman who is currently living in that house bought it for 10k more than what she was listing it at. So from what she paid for it, to what the assessed price currently is, it's a loss of about 40-45k.

morsey2011 · June 2013

ally510:
I'm sorry you lost the house. Good luck with your new search. Hopefully you'll find one even better than the one you lost.

this! I am sorry.

Creedon778 · June 2013

Come out to Worcester - we have a much lower cost of living! I think your mom would freak though. Surprise

Shannon526 · June 2013

Creedon778:
Come out to Worcester - we have a much lower cost of living! I think your mom would freak though.

Haha omg she'd kill me! DH's sister lives out there and is the only one in her family that far away.. she hates driving the pike on weekends with an almost 1 year old and I don't blame her.

pennysuedog · June 2013

Sorry it did not pan out, house buying is not a fun thing.

thetheisens · June 2013

I completely agree with Lopes. Your realtor should be getting them to lower the price. No one will be able to get a mortgage for twenty thousand over the appraised value, because the house isn't worth the price they are asking. The sellers will run into the same problem with every buyer and have to lower their price anyways in order to sell. You don't want to pay the money out of pocket because the property isn't worth that much, so it's money you won't get back if you need to sell in the near future. I hope you get something figured out. That must be very disappointing and frustrating. Good luck!

EloiseWeenieSkipperdee · June 2013

I just want to say I was in a similar situation- but as the seller- and it totally sucks. Every realtor that came through our house said we had a great price- and it was comparable to other homes on the market. We got our offer, then the appraisal came back for $17k less. The appraiser is from a different city, and we were all shocked that it came in so low (since all the locals said it was priced right). We were already coming to the table with $5k to sell the house, but we couldn't afford to pay someone that much more money to buy our house. We felt awful, and I felt terrible for the buyer. Now we also know we can't refi to a lower interest rate any time soon, because we're underwater. It sucks!!

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