why would u say the price was excellent, excellent for who? if the market is fair, why would an "excellent price surface? wouldn't another buyer be willing to pay more if it was so excellent? maybe excellent is based on your perception and non an unbiased opinion. If this price is excellent, are there back up offers ready to take your place? how many days on market....explain your agent's track record...is it based on all deals, or just the one's she is willing to discuss with you as winners.
tax value has nothing to do with this so if it's a little or a lot high.....inconsequential
appraisers don't kill deals, they inform the bank of their opinion what a house is worth, the bank can do anything they want with that opinion...if u think it's worth more, there is nothing stopping u from paying more or buying the house.
good luck
Hi Norton....well, I literally got my bid in on this house days after it went on the market. I'd been looking for a few months and had a couple other homes I'd considered buying, but were more expensive than this one, but I didn't like them as much. Every other house had something I didn't like....and this house had virtually no negatives for me at all, and yet was also priced less. Around here, sales really drop off after labor day, so we guessed they were trying to get a buyer locked in before then. I put in a bid a fair amount under their asking price PLUS $4K in closing costs, plus the fridge, plus a warranty, plus all the curtains, and even some money to finish fencing the yard. So we really though they'd counter with a higher price, and remove some of those extras, but they didn't. They agreed to it, but wanted a very late closing date, late enough that I had to take the risk of a the interest rates changing before I had to lock them. And a bit more in earnest money since they were agreeing to take it off the market before letting any other buyers see it. I actually WANTED a later closing date, so was more than willing to trade the risk for the good deal I was getting on it. Since we didn't have to go back and forth a whole lot, we had a contract about 4-5 days after it went on the market, maybe less.
So yes, there could very well be backup offers, but since we got our offer in so quickly, they may not have had any chance to have other buyers look at it. They certainly might have gotten higher offers, but it's pretty unlikely most buyers would have agreed to as late a closing date as I did.
Not sure what track record you are looking for on my realtor but in selling, she's had at least one home sold every month in the last year, which is darn good in this economy. She's an accredited buyer's agent, a native to this area, and over 13 years as a full time realtor. She said in 13 years, her ability to get homes at the right price has resulted in only one appraisal in the past that required re-negotiating with the seller...and that one wasn't even half as large as the difference we got with this appraisal. Granted, I have only her word to go on with that but nothing I know of her would give me reason to doubt her.
And yeah, I know tax records don't matter much, I'm just kind of used to pulling them when I research and I'm pretty used to seeing them a certain amount above the sales price, as they were all done the same time for the county unless it's a new home (which is not in my price range).
As for paying the difference, that's simply not financially possible for me, I had to scrimp and save for a few years to get this far. If this deal falls through that alone will mean having to wait until next year to start over again, to save up the approx. $2K it cost me to get this far. If it was only a few thousand difference, that I could handle. But $30K?? That's not money I can just pop up with at a moment's notice.
