If you are a seller, these are questions you should be asking your agent during the sale process:
*What if the appraisal for the lender who is making the loan for the buyer comes in lower than the sales price and the loan amount is reduced?
*What if, even after an appeal, the lender refuses to raise the loan amount to the amount that the buyer needs to close the transaction?
*What if the sales price is altered due to a low appraisal? Can the seller negotiate fees that they have agreed to pay such as repairs, inspections, loan fees or commissions?
*What if a buyer though they were pre-qualified does not ultimately qualify for the loan?
*What if the buyer tries to continue to negotiate throughout the closing process?
*What if the buyer, the buyer's agent, the lender, the appraiser, the different inspectors or the repair people are not doing their jobs within the time frames which were projected at the onset of closing and it now appears that these actions are going to delay the closing?
*What if a buyer has a significant change in his or her life before the closing (loses job, divorce or bankruptcy)?
Linda Shank Broker Owner Linda Shank and Company is a 32 year real estate veteran in Phoenix's Southeast Valley. Contact her at www.ISellAZSunshine.com
*What if the appraisal for the lender who is making the loan for the buyer comes in lower than the sales price and the loan amount is reduced?
*What if, even after an appeal, the lender refuses to raise the loan amount to the amount that the buyer needs to close the transaction?
*What if the sales price is altered due to a low appraisal? Can the seller negotiate fees that they have agreed to pay such as repairs, inspections, loan fees or commissions?
*What if a buyer though they were pre-qualified does not ultimately qualify for the loan?
*What if the buyer tries to continue to negotiate throughout the closing process?
*What if the buyer, the buyer's agent, the lender, the appraiser, the different inspectors or the repair people are not doing their jobs within the time frames which were projected at the onset of closing and it now appears that these actions are going to delay the closing?
*What if a buyer has a significant change in his or her life before the closing (loses job, divorce or bankruptcy)?
Linda Shank Broker Owner Linda Shank and Company is a 32 year real estate veteran in Phoenix's Southeast Valley. Contact her at www.ISellAZSunshine.com
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