The Puget Sound Business Journal recently posted an article about a 1,100 square foot home in Ballard that sold $158,000 over list price. There is no denying that Seattle’s real estate market is hot largely due to lack of inventory and rising rents. (A’ hem…if you have been considering selling your Seattle area home, now could be the time).
You just “won” the highest bid on a hot Seattle home… now what?
May 2, 2015 by Leave a Comment
When an appraisal comes in low
June 20, 2007 by 5 Comments
Luckily this hasn’t happened often to me…last week we closed a transaction where the appraised value came in lower than the agreed sales price on the purchase and sale agreement. Ugh!
The property is a nice home in south King County that was originally listed for $275,000. Shortly after going on the market, a bidding war commences and my client “wins” the home after it is bid up to $300,000 which includes building in $6,000 of closing costs to be paid from the seller. My client is putting zero down into the transaction (100% loan to value).
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