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Updated over 3 years ago on . Most recent reply

Kay March's profile image
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Kay March
  • from Gainesville, Florida
  • Member since Apr 28, 2013
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Kay March's profile image
Kay March's profile image
Kay March
  • from Gainesville, Florida
  • Member since Apr 28, 2013
Connect
Kay March
  • Gainesville, FL
20
Votes |
127
Posts
Buying & Selling Real Estate

Buyer with FHA loan requires a second "Appraisal Contingency"

Kay March
  • Gainesville, FL
Posted

A potential buyer of a single family house has presented an offer based upon an FHA loan, which, of course, will involve a pretty stringent appraisal. Nevertheless, he has attached an "Appraisal Contingency" which allows him to hire another appraiser and present the appraisal to me, the seller, up to 7 days prior to closing. If the appraisal comes in low, he can walk away at that point. So he appears to be giving himself two chances to present me with a low appraisal. Would any seller who is not desperate to sell accept that? Am I missing something?

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Kay March's profile image
Kay March's profile image
Kay March
  • from Gainesville, Florida
  • Member since Apr 28, 2013
Connect

User Stats

127
Posts
20
Votes
Kay March's profile image
Kay March's profile image
Kay March
  • from Gainesville, Florida
  • Member since Apr 28, 2013
Connect
Kay March
  • Gainesville, FL
20
Votes |
127
Posts
Kay March
  • Gainesville, FL
Replied

@Dustin Allen, thank you. Yes, this property is on the market in Florida.

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