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Bank asked us to lower our offer

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Henry R Morton replied to Henry R Morton's discussion Bank asked us to lower our offer
"The home was listed in August of 2016 at $129,900 In November the price was dropped to $119,900. We put in an offer of $110,000 in Late December. We reviewed all the comps in the area with our Realtor so $110,000 seemed like a fair price taking into…"
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Brett Goldsmith replied to Henry R Morton's discussion Bank asked us to lower our offer
"I've never seen a bank say this but maybe it's possible that the bank sees you are paying above FMV and that the property won't appraise at closing? What's the price…"
Henry R Morton posted a discussion

Bank asked us to lower our offer

Back in December My wife and I put in an offer on a Short Sale. Yesterday my Realtor advised us that the sellers bank had completed the appraisal (Original loan is a VA loan) and our offer was too high. They advised us to re-submit for $40K less…See More
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