Do I have to share the property appraisal with the sellers?
January 4th, 2011 | by admin |My husband and I are in the process of buying a single family home. Our offer has already been accepted by the sellers and we have already had the property appraisal done. Their listing agent told our agent that some neighbors called the seller (he does not live in the state) and indicated that they believe the listing agent priced the house too low (which is not true– it is market value). The appraisal came back just $5,000 over the listing price that we agreed to. The house needs well over $5,000 in repairs. We are concerned that by showing this to the sellers, they will want to back out of the contract–we are only 3 weeks from closing. They haven’t paid for anything and have refused to fix some faults in the property, they are not given any contribution as it is.
Are we obligated to show the sellers the property appraisal?
No, you are not obligated to share the appraisal with the sellers. You have a contract, the opinion of the out of town busy body is not withstanding.
2 Responses to “Do I have to share the property appraisal with the sellers?”
By hottotrot1_usa on Jan 4, 2011 | Reply
No. And I’m not sure that they can back out and for that reason without being penalized.
References :
By godged on Jan 4, 2011 | Reply
No, you are not obligated to share the appraisal with the sellers. You have a contract, the opinion of the out of town busy body is not withstanding.
References :
Oregon Realtor