My Life as a San Francisco Realtor: June 2012

The Appraisal is NOT a Contingency

The Appraisal is NOT a Contingency

I showed my client a nice little house in El Sobrante over the weekend. She liked it and we made an offer.

Today I hear back that there are, of course, multiple offers and the seller wants our highest and best. Nothing new. these days!

But this is where it gets interesting. The Appraisal is NOT ALLOWED to be a Contingency

Seller will require buyer to purchase property at agreed to accepted offer price, they will not lower the price if the appraisal is less than the accepted offer. The buyer must have the funds to make up the difference.
 

Please provide verification of funds. 

 

John M Scott, Broker / Owner, Scott Keys Properties, Certified Distressed Property Expert (CDPE), Council of Real Estate Brokerage Managers (CRB), serving San Francisco and the surrounding San Francisco Bay Area

Comment balloon 9 commentsJohn M. Scott • June 19 2012 06:50PM
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