All Forum Posts by: Debra K Rubio

Hey Brian:  I used this appraisal gap language for a purchase contract on an investment property that was a For Sale By Owner as the property was priced above similar comps in the area:

In the event the appraised value comes in below Purchase Price, then Buyer agrees to pay up to $3,000.00* over appraised value not to exceed purchase price. Any such cash differential shall be applied to Buyers` Cash at Closing amount in Section 4.4. Section 6.2.1 shall apply in the event the appraised value comes in below the stated listing price at the time the offer was submitted.”

I also was required to use the appraisal obtained by the credit union for financing.  Hope this helps.  

Hey BP's:  I'm looking for recommendations for a real estate attorney in Denver to review purchase contract asap. Property is for sale by owner. Thank You.