Question
A buyer purchased a home using a VA loan. An appraiser was assigned to estimate the value of the property for the lender. The appraised
A buyer purchased a home using a VA loan. An appraiser was assigned to estimate the value of the property for the lender. The appraised value was determined to be less than the contract price. If the buyer really wants the property, which of the following choices is the buyer's BEST option?
A. Make up the difference between the contract price and appraised value in cash.
B. Do nothing because the seller must sell the property at the appraised value.
C. Hire an appraiser and see if a second appraisal yields a higher appraised value.
D. Seek an FHA lender who will automatically make up the difference between the contract price and the appraised value.
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