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Updated over 4 years ago on . Most recent reply

Edwin Ro's profile image
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Edwin Ro
  • Member since Apr 12, 2018
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Edwin Ro's profile image
Edwin Ro's profile image
Edwin Ro
  • Member since Apr 12, 2018
Connect
Edwin Ro
2
Votes |
18
Posts
Buying & Selling Real Estate

Appraisal Contingency Removal Risks

Edwin Ro
Posted

I put an offer on a home for $990k, which is above $975 asking. There are 8 offers but the seller countered at $990k but no appraisal contingency. What does this mean? I plan to put down $250K and have a pre-approval for $765k at $1.1 purchase. Do I need to pay the difference if the appraisal comes in lower than $990k? If so, who do I pay that to?

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