Home Did Not Appraise

Posted by Paul Caparas on Monday, March 8th, 2010 at 11:59pm.

appraisal_400

After looking and making offers on many homes, you finally got one into Escrow. Everybody is happy until the Appraisal comes in. "What! The home appraised $25,000 less than what I am buying it for. What do I do?" This situation is happening a lot these day because of all the good homes with multiple offers and to win the home, buyers need to make a strong offer.

So lets get back to "what to do". One thing a buyer can do is cancel. But if the buyer really really really wants the home, the buyer can pay the $25,000 difference in cash because the buyers lender will only finance upto the Appraisal price. Another option is to renegotiate the purchase price or terms and conditions with the seller. The seller will consider this option because chances are that they will be dealing with this appraisal problem now or later.

Every situation is different. If the seller is a Bank, buyers might have a better chance on renegotiating with purchase price than a traditional owner who is emotional attached to the home. But really who knows. It doesn't hurt to ask or it can be a Deal Killer. If you have any questions, please let me know.


Paul Caparas
Broker Associate

Cell: 858-349-2390 | E-Fax: 619-209-7597
paul@paulcaparas.com | www.PaulCaparas.com
CA DRE # 01397640

Selling San Diego Real Estate since 2003

Paul Caparas

DRE # 01397640

Call or Text:
​858-349-2390

READ OUR REVIEWS!

How To Buy A New Home But Sell Your Current Home First

Author:Paul CaparasDate:2016-10-29

On The Fence On Buying

Author:Paul CaparasDate:2016-01-09
Should you buy a home now? On the fence about buying a home!

How Much Your Home Is Worth In Today's Market?

Author:Paul CaparasDate:2014-05-08

San Diego Mortgage Rates and Programs

Author:Paul CaparasDate:2014-05-06

Waiting Periods to Buy a Home After a Short Sale or Foreclosure

Author:Paul CaparasDate:2014-01-09

Multiple Offers - San Diego Sellers Side Part 2 of 2

Author:Paul CaparasDate:2013-11-22

Multiple Offers - San Diego Sellers Side Part 1 of 2

Author:Paul CaparasDate:2013-09-11

FHA Loan after a Short Sale or Foreclosure

Author:Paul CaparasDate:2013-09-05

Rising Mortgage Interest Rates

Author:Paul CaparasDate:2013-07-26

Paying Above Appraised Value

Author:Paul CaparasDate:2013-04-30

Renting vs. Owning San Diego Real Estate

Author:Paul CaparasDate:2013-02-06

2 Listings Not Yet on the San Diego MLS

Author:Paul CaparasDate:2013-01-09

Mortgage Forgiveness Debt Relief Act Extended!

Author:Paul CaparasDate:2013-01-02

Home Upgrade Ideas

Author:Paul CaparasDate:2012-12-11

Mortgage Interest Tax Deduction

Author:Paul CaparasDate:2012-12-09

Buy New Home First or Sell Current Home First?!? - San Diego Real Estate

Author:Paul CaparasDate:2012-11-27

Rancho Penasquitos Real Estate Market Update

Author:Paul CaparasDate:2012-11-14

Nondelinquent Homeowners Soon to be Eligible for Short Sales

Author:Paul CaparasDate:2012-10-29

San Diego Real Estate Market and Rates!

Author:Paul CaparasDate:2012-09-13

San Diego Real Estate Market

Author:Paul CaparasDate:2012-09-13

Real Estate Trends Newsletter

Author:Paul CaparasDate:2012-06-26

HARP 2.0 and San Diego Housing Inventory

Author:Paul CaparasDate:2012-04-13

San Diego School Ratings

Author:Paul CaparasDate:2012-03-01

5 Ways To Increase Your Chances Of Selling Your San Diego Home

Author:Paul CaparasDate:2011-11-30

100% Financing!?!

Author:Paul CaparasDate:2011-10-21

Buyers Do Your Home Inspections

Author:Paul CaparasDate:2011-10-12

San Diego Home Buying Contingency Period

Author:Paul CaparasDate:2011-06-23

How Much To Offer On This San Diego Home???

Author:Paul CaparasDate:2011-05-17

1461 Stanislaus Drive - Otay Ranch Home For Sale

Author:Paul CaparasDate:2011-04-05

Rancho Bernardo Foreclosure Just Listed

Author:Paul CaparasDate:2011-03-31

Mira Mesa Real Estate Update (January 2011)

Author:Paul CaparasDate:2011-02-07

835 Caminito Las Olas - Chula Vista Home For Sale

Author:Paul CaparasDate:2011-01-10

Getting a San Diego Home Mortgage Loan

Author:Paul CaparasDate:2010-11-16

Updated Turnaround Times on San Diego Short Sale Approvals

Author:Paul CaparasDate:2010-10-28

San Diego Short Sale Homes with a 2nd Mortgage

Author:Paul CaparasDate:2010-08-27

Is a San Diego Neighborhood with an HOA for me?

Author:Paul CaparasDate:2010-08-10

Rancho Bernardo Home For Sale

Author:Paul CaparasDate:2010-06-09

San Diego Short Sale Approvals

Author:Paul CaparasDate:2010-04-19

Up To $18,000 in Home Buying Tax Credits for a Limited Time!

Author:Paul CaparasDate:2010-04-02

Offer Response Time

Author:Paul CaparasDate:2010-03-15

Home Did Not Appraise

Author:Paul CaparasDate:2010-03-08

Websites To Know

Author:Paul CaparasDate:2010-03-02

FHA and VA Approved Homes in San Diego

Author:Paul CaparasDate:2010-02-19

Mira Mesa Real Estate Market Report - 2/16/10

Author:Paul CaparasDate:2010-02-16

Scripps Ranch Market Update

Author:Paul CaparasDate:2010-02-10

Pre-Qualified vs. Pre-Approved

Author:Paul CaparasDate:2010-02-03

New Listing in Scripps Ranch

Author:Paul CaparasDate:2010-01-19

My 2009 Recap

Author:Paul CaparasDate:2010-01-12

Mira Mesa Skatepark Fundraiser

Author:Paul CaparasDate:2009-12-08

Appraisal FAQ's

Author:Paul CaparasDate:2009-11-20

Tax Credit Extended and Expanded!!!

Author:Paul CaparasDate:2009-11-06

New Rancho Penasquitos Foreclosure

Author:Paul CaparasDate:2009-10-19

Rancho Penasquitos Foreclosure For Sale

Author:Paul CaparasDate:2009-09-10

What To Do in San Diego

Author:Paul CaparasDate:2009-09-04

Mira Mesa Foreclosure For Sale

Author:Paul CaparasDate:2009-08-31

Another Hurdle for FHA Loan Buyers

Author:Paul CaparasDate:2009-08-27

So What's Going On With San Diego's Real Estate Market

Author:Paul CaparasDate:2009-08-19

Heads Up for Buyers with a FHA Loan

Author:Paul CaparasDate:2009-08-06

Chula Vista Foreclosure

Author:Paul CaparasDate:2009-07-30

Mira Mesa Homes For Sale

Author:Paul CaparasDate:2009-07-29

Using the $8,000 Tax Credit Towards Down Payment

Author:Paul CaparasDate:2009-06-23

Where are all the Listings???

Author:Paul CaparasDate:2009-06-23

Who is Selling?

Author:Paul CaparasDate:2009-04-08