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davidfr
1136 Posts |
 Posted - 05/23/2008 : 10:30:51 AM
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| If a house is listed for $150,000 and the buyer gets it for $145,000 but then wants to add in the 6% for seller concessions to bring it up to $153,700. If it appraises for $153,700 do FHA lenders have a problem with the purchase price being higher than the listing? It is really just an example of bad negotiating, but I want to be safe. Can this be an issue with FHA lenders? |
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1paul
296 Posts |
Posted - 05/23/2008 : 10:33:47 AM
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| It shouldn't be a problem, as long as it Appriases-out, for the full amount. You need to make sure you are also showing that Closing Costs are included. I just put it right on the GFE: "Closing Costs...$$$" |
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bobbydoyle-TX
60 Posts |
Posted - 05/23/2008 : 10:46:48 AM
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| I agree, as long as the appraisal amt is greater than or equal to the loan amt. There should be no prob! |
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davidfr
1136 Posts |
Posted - 05/23/2008 : 10:49:01 AM
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| Gracias. |
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