The appraisal for the new house came in at $1K over what I agreed to pay for it, so I (just barely) don't need to pay any difference in cash. That was... kind of on the nose. My agent is relieved that there are no work orders, as I suppose I should be because timing.
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Date: 2022-04-12 08:23 pm (UTC)From:no subject
Date: 2022-04-12 08:28 pm (UTC)From:Ah, the crucial piece of missing info is that banks won't lend for more than the appraised value, even if they've pre-approved you for more. Sure, the seller is fine with the price I offered, but the bank has to be as well, or I'm out of pocket for the difference.
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Date: 2022-04-12 09:56 pm (UTC)From:no subject
Date: 2022-04-12 10:02 pm (UTC)From:Ayup. Something like a third of all house purchases in the last year were in cash.