? About Michigan Conventional Mortgage
Hello,
I'm just starting out and am in Tennessee. My sister up in Michigan just put her house on the market two days ago. It was listed for 139, they have an offer of 130 already which is what they actually wanted. Supposedly fair market value for the home in that neighborhood is 125. The realtor is telling her that when a mortgage is applied for that they will only approve 125 so that is ultimately all she will be able to get for it. My question is if the person making the offer has the extra 5,000 to throw in why would they not be able to pay the 130 offer?