I am submitting an offer on a beautiful home this afternoon. My agent strongly believes the house will under appraise (even just a little) because all the comps sold for $20-$40K less. We’re thinking of giving them the price they asked for and then a $15K appraisal gap. I’m sure other buyers will offer higher prices and I’m hoping their appraisals are lower. This isn’t a very high demand area but most homes have been selling 2-3 weeks after listing. I’ve missed out on 2 other homes because my max appraisal was $5K both times. Sellers— what would be most appealing to you? submitted by /u/Throwaway6531310 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1t102ap/sellers_would_you_prefer_a_15k_appraisal_gap_or_a/

(First time buyers here!) So we are under contract for a house and are 5k under asking ($390k home). We asked for under asking because the house was priced a bit high compared to comps given its age and visible condition. We had an inspection that found a bunch of little stuff and some big stuff. All the little stuff we are planning on doing ourselves like fixing the handrail in stairs, sealing driveway cracks, fixing sewer clean out, installing more smoke detectors, etc. Here are the things we asked the seller for: - roof is 20 years old and has hail damage (notably, the seller is older and estimated the roof was 7-8 years old so that’s what we were assuming going into the contract), inspection guy recommended we have the seller replace the roof with their insurance so we asked for that since insuring it in its current state is unlikely. -Radon levels came back high so we are asking they install a radon mitigation system. I think the inspector estimated around $1k -we had a firepl...

Was planning to downsize from an SFH to a townhome because too much of my budget is going to housing (thanks to home insurance and property tax hikes), plus everything else is getting more expensive. The original plan was to close on the new place by the end of March, then put the current home on the market in early April. (I'm in a financial position now that would allow me to buy first, sell second, which would be a sanity-saver as a single parent.) The war started just after I signed the purchase agreement but before I locked, interest rates rose, and I canceled my purchase agreement. I thought I would wait it out until Spring 2027 and try again. But the housing payment anxiety plagues me. (For the record, I have no other debt besides my current mortgage and live frugally.) There are some builders offering 4.87% in my area, which makes a purchase still feel feasible, but even if I bought today, my current home wouldn't hit the market until early/mid-June. Is this terrible t...