203k can save the deal
By Mike Young, FHA 203k Consultant 916-758-1809
(203kOnLine.com, covering the USA)
The appraisers these days are not always bringing in the values that the buyers and sellers have agreed upon. I remember years ago when in Berkeley they were having auctions to sell property. They would put out a price that was clearly to cheap to sell the home and say they would have the auction Saturday at 2 pm. Lots of people would typically show up & the auction would begin. I would watch as 15-20 people would be bidding more than the home was worth and the top bid got the deal. Try to appraise it when it sells for $200,000 more than it was worth yesterday. Better keep track of the other people who were bidding because their is your proof that the market would pay this high a price for a home in Berkeley. Today is is a different problem in that many sales in the marketplace are fal...