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Buying & Selling Real Estate
HomeForumsBuying & Selling Real EstateHouse appraised for less than my offer. What now?
Eugene Lubman's profile image
Eugene Lubman's profile image
Eugene Lubman
  • New to Real Estate
  • from MA
  • Member since Nov 26, 2020
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Eugene Lubman's profile image
Eugene Lubman's profile image
Eugene Lubman
  • New to Real Estate
  • from MA
  • Member since Nov 26, 2020
Connect
Eugene Lubman
  • New to Real Estate
  • MA
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Buying & Selling Real Estate

House appraised for less than my offer. What now?

Eugene Lubman
  • New to Real Estate
  • MA
Posted May 5 2021, 21:58

Hi all,

I am about to close on my first house hack (4-unit), but the appraisal came in at 7% less than my offer. I am financing with an FHA loan, and the lender will not approve a loan above the appraised value. My agent shared the appraisal report with the seller and is trying to renegotiate the price. If the seller refuses to sell it for the appraised price, what are my options?

Gene

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