Quote:
Originally Posted by cmyx6go
Most banks will only lend you 80% of what house appraises for. Not the full appraisal amount. Not sure if this varies state to state but I'm in NY too so it's the same for you. I'm in the process of selling and buying
I don't understand - your first offer was accepted but then you increased offer? Is homeowner playing games? Status will change to under contract or contingent once contract is in place.
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our first offer we submitted was the asking price. the agent came back and said there was already an offer. we waited for few days, contacted the agent and told us to make higher offer if we could. Since we liked the house so much we went offered $20k over asking price. The agent told us there was another offer that was accepted, and ours was on hold, like back up.
This week, the house is still on market. I check daily, on all of the sites that the property is listed on lol
the wife wants to wait til next month or in Oct to look again, maybe things have calm down a bit.