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What else can I help you with?
How can you purchase a house with no money down and get cash back at closing?
There's no way to do that unless the house gets appraised at a higher price then the purchase price. You would have to take out a home equity right away.
How home purchase price affect appraisal value?
It usually doesn't unless but sometimes the purchase price may be lower than the appraised value because demand is low or the seller is anxious to get rid of the house and willing to take a loss.
Is the adjusted sales price on a home appraisal the sale price?
no. the sale price is whatever the two parties agree on. The appraised value is just that, a value that someone appraised the value to be. (Although the lender does put more value on the appraised value than on any other.)
What is the definition of the word appraised?
The definition of the word appraised generally means to assess the value or quality of something. If something is set a price by an expert, this is also known as being appraised.
Do you need a down payment if the value of the home is higher than the loan?
I am a Loan Originator for a Mortgage Company and to answer your question, you must go off the purchase price in a Sale no matter the appraised value, but there are so many different loans in my market you may not have to put a down payment at all. And the seller can pay all of your closing costs. It just depends on the situation. You could walk away with no money down. Actually a mortgage company will use the lesser of the purchase price or the appraised value. Some lenders can do "hard money" loans and will lend on the "future" value as opposed to the purchase price, but expect very high rates.
how can a underwriter object to an appraised price?
An uderwriter can object to an appraised price isf a considerable length of time has elasped since appraisal. The prices of a commodity may wary depending upon market demand and supply requirement.
How do you price j and c Fischer baby grand pianos?
The recommendation is to have your piano appraised.
Can you get a mortgage loan for a new home with money included for home improvements?
If the appraised value is higher than your purchase price and your down payment is substantial and or repairs are needed as suchthe owners have reduced the selling price to cover -then you may be able to come out of the closing with some cash money for repairs.
Has the seller changed the price after purchase?
No, the seller has not changed the price after purchase.
What is the difference for rebuilt versus serta transmission?
price
What gross purchase price mean?
gross purchase price
How do you calculate to find LTV?
loan amount divided by sales price or appraised value or whichever is less
