All Forum Posts by: M.J Ma

Hi all, we are closing on a SFH property in Mariposa, CA and we are having trouble finding an insurer for the property. It will be a mix of personal use and vacation rental. If anyone has any leads, I'd appreciate it!

Thanks guys. So the original contract states "If appraisal comes back less than the purchase price of $290,000, Buyers agree to pay $3,000 in cash over the appraised value at the close of escrow, not to exceed $290,000". Since the appraisal is so much lower, the seller is not willing to honor this agreement. Is it contractually binding?

We are in escrow on an investment property. We offered 3K above appraisal value. However, appraisal just came back 30K below listing price. At this, what are the seller's options? Can they legally back out if they accepted the offering with 3K over appraisal?