North Carolina Nesties
luckygirl0818
member
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
house drama :(
So we are (were) set to close on the 24th--and our appraisal came back today--its about 8000 less than our offer (about 15000 less than the original list price).
We sent it back asking the seller to drop the price to the appraisal price. Hopefully he agrees. OUr lease is up at the end of this month; and our landlord has new tenants that move in 1 September. If we have to look for another house, there is NO WAY that we will be able to close before the end of this month, so we will essentially be homeless 
Re: house drama :(
Isn't that good news? The seller doesn't really have a choice in dropping the price at least a bit to try and meet the appraisal do they? I hope the seller comes through for you and you are still able to get your house at the lower price! Fingers crossed for you.
I would think the sellers would lower the price. Wouldn't they have the same problem with the next potential buyer?
Good Luck!
I've got my fingers crossed for you guys! I remember being a little panic-y when we closed on our house. We closed a week before our lease was up and the leasing company had already had someone else to move in.
Hopefully everything will go as planned and maybe you'll get the house for cheaper!
We've got people that are supposed to be moving in next door either today or next wed. and I'm hoping everything goes well for them too. The house next door was being offered for almost half of the original asking price just to move it. (Our developer went on Hiatus).
Good Luck!
I hope we just get the house for less. Some people are so stubborn about what they believe their house is worth. If he doesn't sell to us, the next appraisal will come in close to ours so he'll be in the same boat. I just remember reading on a different board where someone was complaining that appraisers were appraising their house for less than it was worth and there was no way they sell it for less than they were asking.
Will you no longer be able to get the financing you need or do you just not want to pay more than house was appraised for?
Do you think the appraisal is accurate?
I think the seller has every right not to lower the price, so I would start researching short term rentals just in case.
Good luck
I'm sorry you're going through this. Buying a house is stressful enough without these types of surprises. I'm sending positive thoughts that the seller will drop the price. If it's not dropped, could you offer to put up a little more down to make it a little easier for the seller... like meet in the middle? I know it's not ideal, but appraisals can be a little wonky. Or you could possibly ask to have it reappraised.
I'll be thinking of you guys and I hope it all works out for the best!
Not necessarily. Our first buyer fell through in part b/c of the appraisal. We were willing to lower the price a bit but weren't going to give her the other concessions she wanted if we had to lower the price. She wanted the world, we weren't giving it to her so the sale fell through.
Next appraisal came in around 10k higher (I forget the exact amount). We knew her appraisal had used incorrect comps (misvalued the house down the street by a substantial amount) but he wouldn't change it even when given accurate data.
If the appraisal is wrong and the seller has good reason to expect another one will come in at a higher amount, they might refuse to lower the price or try to get it corrected.
If the appraisal is actually correct, the seller would be stupid to not lower the price.