Hi all,
On a FHA listing under contract, FHA appraisal came back lower, I am a seller's agent---so I don't plan on sharing this information (as we know all appraisers will have their own value and they aren't usually the same).
I plan on waiting to see what the buyer's appraisal comes in at, but wanted to make sure the FHA in their infinite wisdom isn't going to share this information or not. Or, if that is the "price" now?
As always-appreciate your insight
Replies
I have sold FHA properties $20K above the ATP value, btw.
It's the other direction that is the problem, FHA appraised value above FMV.
I have sold five or so FHA PFS short sales, where the purchase price was above the FHA ATP appraised value.
Never had a Servicer request that we lower the price, and frankly I have my doubts that they can or should do so, under their guidelines with the FHA.
I see no reason to share the ATP value with the buying side. The "Sales Contract Review" contains the value, but the Closing Worksheet and the Payoff Letter will not, or at least, have not, in my experience.