As a seller, I don’t want to go against the terms of the contract. And I don’t want to sell the house anymore. After today’s appraisal, how long will it take the buyers to receive their loan? Closing date is in less than two weeks. And what happens if the buyer doesn’t receive a loan in a timely manner, or if the value is less than what was agreed upon? And I won’t renegotiate or extension to the closing date. They recently switched lenders; they may have been turned down by the first or found a better deal with another. I’m wondering which one? I just hope they had been turned down so that they wont likely to get another one (hopefully anyway). Additionally, the house next to ours has recently reduced its price significantly. Will the appraiser compare our house to others? A few days after my property went up for sale, it was under contract, and now other houses are selling for between $60,000 and $80,000 less.
Majeed Ekbal's Daily Blog 