When the appraisal comes in short, everyone has 5 choices as to how to resolve the problem.
Watch this video to learn what those 5 choices are.
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I am a loan officer who lends in 45 states and I handle the loan from start-to-finish. My cell phone is 1-216-780-1103 and I can be reached at anytime for questions, Pre-Approvals or anything else needed.
Great information, thanks thanks for sharing. I hope you have a great day.
Khash Saghafi NMLS
Cleveland, OH
Thank you Richard!!
Good morning Khash - this is a problem for many but with prices coming more into line hopefully we won't see as many.
Khash Saghafi NMLS
Cleveland, OH
I agree Grant and thank you!!
I recently had a VA appraisal come in short, we sent comparables which didn't change the appraisal (the appraiser did a great job, no fault of his), and the buyer wound up covering the gap. So yes, VA buyers CAN pay for the shortage.
By the way, how many different band shirts do you have? :-)
Khash Saghafi NMLS
Cleveland, OH
@Kat, Thank you for the insight on the VA deal. Many agents think that "The VA" does not allow a buyer to cover appraisal shortages (which is incorrect). In regards to my shirts, I never wore a band EVER, but then I got onto a roll at my Zoom Webinars and now I have an absolute ton. They have to be 80's bands (or John Denver or Kenny Rogers, lol).
I never bought concert T-shirts, Khash Saghafi NMLS but if I did, I'd have Peter Frampton, Heart, Leonard Skynard, ZZ Top, Steve Ray Vaughan, Andrea Boccelli, Pink Floyd, Journey, Paul McCartney, Rod Stewart, Van Morrison, and a bunch of others. The 70s was my era!
Now those are some bands Kat Palmiotti!! Stevie Ray Vaughan and Double Trouble were incredible. You had other ones too, but I am a child of the 80's, lol.
Excellent video Information. Thank you for sharing. Have a wonderful day and a blessed week.
Khash Saghafi NMLS This is an excellent video of the five choices when an appraisal is below value.
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