1,311,397
If an offer does not specify a price, I am not sure you will have a legal contract.
An offer with no appraisal contingency achieves the same goal. An addendum can also specify that the buyer will pay up to a specific amount above the offer price if the house does not appraise.
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Brian L. Sirota, Esq.
Orange, CA
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Kathleen Daniels, Prob...
San Jose, CA
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Wanda Kubat-Nerdin - W...
St. George, UT
-
Candice A. Donofrio
Fort Mohave, AZ
-
Don Baker
Eatonton, GA
-
Ray Henson
Elk Grove, CA
-
Lyn Sims
Schaumburg, IL
-
Michael Jacobs
Pasadena, CA
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Joan Cox
Denver, CO
-
Brian England
Gilbert, AZ
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Peter Mohylsky, Beach ...
Miramar Beach, FL
2,684,109
Make sure you know who the appraiser is. Maybe get two appraisals.
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Joan Cox
Denver, CO
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Kathleen Daniels, Prob...
San Jose, CA
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Wanda Kubat-Nerdin - W...
St. George, UT
-
Don Baker
Eatonton, GA
-
Ray Henson
Elk Grove, CA
-
Doug Dawes
Topsfield, MA
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Brian England
Gilbert, AZ
-
Kevin J. May
Hobe Sound, FL
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John Juarez
Fremont, CA
851,242
I've never received an offer like that but think it's kind of brilliant!
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Wanda Kubat-Nerdin - W...
St. George, UT
-
Ray Henson
Elk Grove, CA
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Doug Dawes
Topsfield, MA
-
Joan Cox
Denver, CO
-
Brian England
Gilbert, AZ
-
John Juarez
Fremont, CA
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Karen Climer
Orlando, FL
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Candice A. Donofrio
Fort Mohave, AZ
1,153,794
I hear a can of worms being opened as I type this. Best of luck if acknowledged by the Seller.
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Kathleen Daniels, Prob...
San Jose, CA
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Wanda Kubat-Nerdin - W...
St. George, UT
-
Don Baker
Eatonton, GA
-
Ray Henson
Elk Grove, CA
-
Doug Dawes
Topsfield, MA
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Michael Jacobs
Pasadena, CA
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Brian England
Gilbert, AZ
2,436,099
No, I have not received an offer $X over appraisal. Interesting. Perhaps they think the house is overpriced and are saying they'll pay whatever it's "worth" plus some???
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Kathleen Daniels, Prob...
San Jose, CA
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Wanda Kubat-Nerdin - W...
St. George, UT
-
Ray Henson
Elk Grove, CA
-
Doug Dawes
Topsfield, MA
-
Lyn Sims
Schaumburg, IL
-
Brian England
Gilbert, AZ
-
John Juarez
Fremont, CA
4,693,566
Hmm, I have not seen that before either but that certainly would be interesting. Good for the buyer if it appraises low and good for the seller if it appraises high, haha.
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Kathleen Daniels, Prob...
San Jose, CA
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David M. Dwares
Fort Lauderdale, FL
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Wanda Kubat-Nerdin - W...
St. George, UT
-
Ray Henson
Elk Grove, CA
-
Doug Dawes
Topsfield, MA
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Joan Cox
Denver, CO
711,852
Interesting offer. Will your seller accept? Sounds good for a seller in this changing market.
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Kathleen Daniels, Prob...
San Jose, CA
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Wanda Kubat-Nerdin - W...
St. George, UT
-
Ray Henson
Elk Grove, CA
-
Doug Dawes
Topsfield, MA
-
Lyn Sims
Schaumburg, IL
-
Brian England
Gilbert, AZ
1,422,313
Yes. Often. To help secure the deal we use an addendum to say that the buyer if borrowing will pay the difference between appraised value and offer price so the Seller does not have to worry about having to put the home back on the market along with the necessary funds to accomplish the overage.
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Kathleen Daniels, Prob...
San Jose, CA
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Wanda Kubat-Nerdin - W...
St. George, UT
-
Ray Henson
Elk Grove, CA
-
Doug Dawes
Topsfield, MA
-
Brian England
Gilbert, AZ
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John Juarez
Fremont, CA
3,587,960
Many times over the years. We always used our addendum for that situation to put everything in black and white and structure it correctly.
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Kathleen Daniels, Prob...
San Jose, CA
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Wanda Kubat-Nerdin - W...
St. George, UT
-
Ray Henson
Elk Grove, CA
-
Doug Dawes
Topsfield, MA
-
Brian England
Gilbert, AZ
-
John Juarez
Fremont, CA
1,052,211
We've had 'price to be determined at end of lease term by 2 independent appraisals paid for by each principal' when the tenant was gonna buy the property. Which one used would depend. LOL
I see actually nothing wrong with this, but I'd want to make sure the appraisers were local (hard in my area, so many come from 1 to 6 hours away and do not know our tribal customs!)
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Ray Henson
Elk Grove, CA
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Doug Dawes
Topsfield, MA
-
Lyn Sims
Schaumburg, IL
-
Brian England
Gilbert, AZ
-
Kevin J. May
Hobe Sound, FL
-
John Juarez
Fremont, CA
2,781,173
Happy makes the rounds when we all agree on the subject...
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Kathleen Daniels, Prob...
San Jose, CA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Ray Henson
Elk Grove, CA
-
Doug Dawes
Topsfield, MA
-
Brian England
Gilbert, AZ
-
John Juarez
Fremont, CA
1,196,798
I can see a can of worms opening on that one.
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Kathleen Daniels, Prob...
San Jose, CA
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Wanda Kubat-Nerdin - W...
St. George, UT
-
Don Baker
Eatonton, GA
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Joan Cox
Denver, CO
5,216,409
My réponse would be simple, upon approval of my buyer, "you own it for $10,000 over appraisal, enjoy it". We are moving on!
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Kathleen Daniels, Prob...
San Jose, CA
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Wanda Kubat-Nerdin - W...
St. George, UT
-
Ray Henson
Elk Grove, CA
-
Brian England
Gilbert, AZ
378,517
who chooses the appraiser?
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Fred Griffin Florida R...
Tallahassee, FL
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Kathleen Daniels, Prob...
San Jose, CA
-
Wanda Kubat-Nerdin - W...
St. George, UT
1,502,998
Wow, now that is a new one!
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Fred Griffin Florida R...
Tallahassee, FL
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Kathleen Daniels, Prob...
San Jose, CA
-
Wanda Kubat-Nerdin - W...
St. George, UT
1,844,301
I think that there has to be a number of some sort. If it appraises low ... what's the sellers expectations?
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Wanda Kubat-Nerdin - W...
St. George, UT
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Ray Henson
Elk Grove, CA
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Doug Dawes
Topsfield, MA
2,241,519
Lots of "buyer will pay $1,000 (and up dollar amount figure) over top bonafide offer seller receives" Peter Mohylsky. BRIX REALTY . That how the market behaves to come out on top when too many buyers, not enough inventory to go around. Cash and carry, bank or owner financed... the above and beyond clause is one method to come out on top once the smoke settles.
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Wanda Kubat-Nerdin - W...
St. George, UT
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Ray Henson
Elk Grove, CA
-
Doug Dawes
Topsfield, MA
5,868,554
Appraisers know the price they are trying to attain before they get to the house, so not sure how this would all unfold.
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Fred Griffin Florida R...
Tallahassee, FL
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Ray Henson
Elk Grove, CA
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Doug Dawes
Topsfield, MA
2,161,048
Need more info about the terms of the contract including price. Are you saying no price has been offered? If that is the case, this could get quite interesting.
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Fred Griffin Florida R...
Tallahassee, FL
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Kathleen Daniels, Prob...
San Jose, CA
3,345,091
I have not received an offer like that. If I did, I would most definitely get a legal opinion.
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Fred Griffin Florida R...
Tallahassee, FL
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Kathleen Daniels, Prob...
San Jose, CA
3,125,842
Getting an appraisal first would be a good strategy and make sense for this scenario but you do have to offer a price in the REPC.
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Kathleen Daniels, Prob...
San Jose, CA
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Candice A. Donofrio
Fort Mohave, AZ
693,775
I have never received an offer like that or even heard of one like that.
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Kathleen Daniels, Prob...
San Jose, CA
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Joan Cox
Denver, CO
3,025
I haven’t but I think it’s a nice move to be honest! If the buyer really wants the home and they have the extra cash to give why not, especially if it’s just $10,000 over appraised value and not $50,000
901,535
No, You have to have a price in our contract. Perhaps an addendum could be added for it to be $10k over appraisal. What a quandary the appraiser would have.
921,504
That should get the offer to the front of the line.
However, a real number must appear somewhere.
An offers structured like this suggests weak representation on the buyers part. Be prepared to do the work on both sides.
1,622,432
I've seen 1 mln over asking on 2 mil house~ last week. No appraiser necessary.
763,883
Not yet, I wouldn't want my clients to accept this type of offer as a buyer can always find a reason to back out. I would prefer an exact price from a highly qualified and motivated buyer.
3,164,294
The offer would have to spell out who was ordering the appraisal. But it's not necessarily a bad offer today.
2,182,552