I am in contract and offer price is 161K. Home in in LAS VEGAS and with GREEN TREE, sale date is 5/1/2013.

Same model & size and bit better condition, tradition sale just close for 165K 3 weeks ago.

A few SS same with the same model  just close 157K few months ago.

FNMA appraisal came back today for $177K. Do you think I will get a counter and how much?

Buyer agent said if we get counter at 177K just take it.


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     FNMA most likely will counter you at the appraised value. You don't necessarily have to meet it, but it would increase your chances of getting approved. Sounds like your buyer's agent wants to just slam this deal through. It may be possible for you to get the property for less than the appraised value. Whoever is processing this transaction needs to find out the Minimum NET FNMA will accept.

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Thanks so much for the GREAT suggestion. My buyer agent presssure us VERY hard to bring up offer to meet GREEN TREE appraised value before we are even getting the counter. HE SAID our offer too low compared to GREEN TREE appraised value and they will just reject us. I will tell him wait until we get the counter offer. So questions for you.

1.  What is the counter process? willI have some thing in writing from GREENTREE?

2. The file is still with GREEN TREE and have not going FNMA yet!  Can GREEN TREE find out the Minimum NET FNMA will accept and let us know ? Should  listing agent contact FNMA directly?

3. We LIKE the home and told our buyer agent will try hard, but if I have to pay 10% higher than standard sale.. It is rought 


Thanks so much for more suggestions and nice weekend.

They counter 194K- it 17K over very high appraised value..

What do  I do  ?

Pull an FHA case number, do an FHA appraisal, and it sticks to the property for six months. Submit a BPO, a new HUD, come up slightly on price, and let them know this is your next step, then follow through. Good luck!  

My offer is 161K and a few same model  standard sale  is sold for 164K  few weeks ago. so FMV is a bout 161-167K.

GREEN TREE appraisal valaue is 177K and listing agent said they will counter.

If  countered I will bring up to 166K and then ask agents to do BPO and value dispute.

I just worry that if the do not like our counter and close the file. Is it ever happen?


Bank just counter 192K-

what I should do?

According to FHA guidelines, once an FHA appraiser appraises a home, this appraisal stays tied to the home for four months. In other words, the appraisal expires 120 days after it was done. What this means is that if the sellers don’t agree to sell the home at the appraised value (to us) and decide to put it back in the market, they will most likely not accept offers from buyers with FHA loans because a lender won’t approve a loan for anything higher than the appraised value. Since in this market, most buyers are FHA buyers, this limits the pool of potential buyers.

Read more: http://www.quickenloans.com/blog/home-buying-home-appraisal#ixzz2O6...

In other words the FHA Appraisal on the Property would only potentially affect Buyer's trying to obtain an FHA Loan.

You can escalate directly to FNNMA for value disputes.

Here's how:




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