Okay, so let’s say you got a contract for $450,000, but the appraisal came in at $425,000. Maybe you don’t have $25,000 extra to throw at it. If you’re the buyer, you’re trying to get creative and think of other solutions.
Maybe you go back to the seller and you say, hey, you know, well, we’re able to do $435,000, but that’s all we can do. We’ll put $10,000 extra towards it, but that’s all we can do. That’s all we’re able to do, willing to do, whatever.
Maybe the seller comes back and says, yes, that works.
Maybe you split the difference.
Again, in real estate, as long as everybody agrees almost anything, as long as it’s legal, is on the table. Everybody just has to agree and it all has to be in writing.
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