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CA: Too Many Red Flags?

Are these red flags, should I be worried?

  • Possible Red Flag #1: The house was right back on the market because the previous sale fell through.

Counter: shit happens.

  • Possible Red Flag #2: We put in a bid and the seller's agent told us that the previous appraisal was higher and we need to come up to be competitive. Fair enough. Unfortunately, our lender's appraisal came in low. We asked the seller's agent to show us the previous appraisal and he admitted that he didn't have it. He had been told it was X, but he didn't have anything that said X. Luckily for him when challenged, our lender's re-appraisal came up to our bid (FWIW, sellers paid the reappraisal fee).

Counter: the house did eventually appraise at the price the seller's agent told us it had appraised at previously.

  • Possible Red Flag #3: One of the insurance companies wouldn't bind a home insurance policy because there had been a claim for $5000.00 worth of water damage 3 years ago. We look in the disclosures: no mention of water damage.

Counter: Oopsie? We're still waiting to hear back from the sellers.

What do you think? Even my wife, who loves the house, is starting to get cold feet.

The house is everything we want, and the price/interest rates, etc... are right, but it's starting to feel sketchy. We really don't like our agent (she seems more interested in the sale than in our deal), so we wouldn't use her if this deal falls through.

submitted by /u/AdjunctSocrates
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/ij5iq0/ca_too_many_red_flags/
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