Buying A Home
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Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
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.
Asking price vs. appraised price
If you've already closed on your home/are going to close soon, what was your seller's asking price, and how close did the appraised price come to it?
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Re: Asking price vs. appraised price
Our seller's original asking price was 139,900 and the appraisal came back at 140,000.
We ended up getting the house for 137,900 (no closing assistance).
Seller's asking price was $189k (after dropping from $234k), appraisal came at $195k. We got the house for $180k.
Asking $400K (down from $420K)
We're paying $412K (getting $12K back for closing)
It appraised for the $412K.
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Asking Price - 125k
Appraisal Price - 115k
I am paying 115k with 6900 in closing costs.
What do you do if the home comes in appraised less than the asking price? Re-adjust your offer?
Our home is being sold as-is, the seller to do no repairs. Which is why I am stressing about the appraisal.
After 31 cycles and two losses, we've been blessed with a healthy baby girl!
Congrats to both of my amazing TTC Buddies, tdmd09 and sb2006!!
Life of Amberley
That's good to know. I am so worried something will come up and then we've invested $300 in the home inspection + $510 for the FHA appraisal and it will all be money down the drain if something pops up. I do hope the seller would be willing to work with us.... we've been at this since the end of January and he is ready to move out asap (short sale).
Ours was listed at 370 negotiated down to 338 then the appraisal came back at 328. The appraisal was poorly done comparing our house to ones 1000 square feet smaller, but we paid 328.
Edited by moderator.