Home Must Appraise At Or Above Contract Price

[Lee Lansford]

What comment of any can we place in the report when these agents place this comment in the contract? We completely understand it is to protect the buyer/seller... blah, blah, blah.. but it looks like requesting a "pre-determined value" to me..
Anyone have any rebuttal commentary for statements like this on a contract?

The words matter not and I pay them no heed nor do I feel the need to address what is an agreement between the buyer and the seller.

 

[Pilgrum]

My comment would be;
Find someone else to complete this appraisal!

 

[CindyR]

Anyone have any rebuttal commentary for statements like this on a contract?

It is surely not our job to 'rebut' the contract.

 

[SutnNC]

You shouldn't spend anymore time on this, it's not for us/appraisers to worry about. Have you ever seen an FHA/VA Financing Addendum? Every FHA/VA assignment under contract for purchase would have this as an addendum to the contract (similar wording, "not less than").

 

[bnmappraisal]

You appraise the real estate. Not the contract.

I agree

 

[knadave]

This has to be one of the dumbest threads i have read in the forum in a long time and is one of the main reasons we had HVCC stuffed up are a---
Quit being a bunch of whiny babies (wanted to use another word) and just do your job
Quit bitching about someone trying to influence you and be an adult

 

[JTip]

I used to write those exact words for my buyer clients.

Leaves the door open for negotiations on a house the buyer really wants when the seller/seller agent is simply stupid with the price. Comes in $20k low, drop the price or good luck with finding a new buyer willing to throw in $20k cash or a full cash buyer that won't need a loan/appraisal. The comps won't change tomorrow or next week. I've got four more just like yours to show the buyer......

I wouldn't sweat it; doesn't apply to your opinion of value.

 

[Amy Perkins]

That means the seller can walk away if it doesn't appraise right? The problem is when it has no appraisal contingency and they have to pay over.

 

[Amy Perkins]

The contract is not directed at you; you are not a party to the contract. lol...

 

[Michigan CG]

Thank you for the feedback.. but I don't let it influence me, i've had in the past requested for the AMC/lender to go back and have the agents re-word it, which they have done-but this AMC was too lazy to have that done this time. it is just very frustrating to see it as it can be "construed" as requesting a predetermined number.

Why would you ask for the agents to reword the contract? Who gave you that power? Who told you that you have the right to have a buyer change a contract?