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My Bank Would Only Give Me $50,000

By
Real Estate Agent with 410-935-5844 Office 634480

My Bank Would Only Give Me $50,000

I went to my bank and requested $100,000.  No, this was not a request for a loan.  I was asking for money from my own account.

They would only agree to give me $50,000 from my own account!

  • What do you mean $50,000?  I asked for $100,000, not $50,000.

We understand, but we can only give you $50,000.

  • Apparently, you don't understand.  I asked for $100,000; I need $100,000.

We can only give you $50,000, because that is all that is in the account.

  • Now I was getting angry.  What in the hell does what is in my account have to do with how much I want and need.  If I can't get $100,000, then I am not going to take any of it out.

Okay, that is fine with us.

  • Oh great!  That is some attitude from my own bank.

 

Does this sound vaguely familiar to you?

Maybe not with a banking account, where it should be obvious as to how much money it contains, but with real estate.

It is all too often that a seller of real estate wants more than the property is worth.  They just fail to accept the simple concept that if it is not there, then it is not there.

 

Oh, by the way, I am selling my 95 Ford Contour.  It's in great condition.  I am only asking $100,000.

 

Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

I guess that is why some lenders are requesting more than 1 appraisal on a property. Everyone's interpretation of the market value is different. On a house, it is not only what it is worth, but what one is willing to pay for it. BTW, will you take less for the Ford?

Apr 11, 2012 03:13 AM
Steven Cook
No Longer Processing Mortgages. - Tacoma, WA

Ron -- what do you mean there isn't $100,000 in the account, I just checked it two years ago and it was fine. ;-)

Apr 11, 2012 03:15 AM
Ron Trzcinski, 410-935-5844
410-935-5844 Office - Cockeysville, MD

Sarah,

Less for the Ford?  I'm not going to give it away.

Apr 11, 2012 03:41 AM
Ron Trzcinski, 410-935-5844
410-935-5844 Office - Cockeysville, MD

Steven,

That's right.  My bank needs to check its archives.

Apr 11, 2012 03:45 AM