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HomeForumsBuying & Selling Real EstateStupid financing question
Account Closed's profile image
Account Closed's profile image
Account Closed
  • from Kalamazoo, Michigan
  • Member since May 6, 2014
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Account Closed's profile image
Account Closed's profile image
Account Closed
  • from Kalamazoo, Michigan
  • Member since May 6, 2014
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Account Closed
  • Kalamazoo, MI
129
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Buying & Selling Real Estate

Stupid financing question

Account Closed
  • Kalamazoo, MI
Posted May 9 2014, 01:54

I got a low appraisal from an FHA buyer. Since it stays for 120 days I decided to drop the price. Now I think I may have goofed. Let's say you have a contract for 105k and the app comes in at 100k. Does that mean before or after the down payment? In other words would you drop the price to 100k or 103500 since they would only be borrowing 100? Thanks

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