Posted by NJD on July 01, 2009 at 15:57:33:

In Reply to: Need information posted by Melissa Martin on July 01, 2009 at 14:55:11:

To my thinking and experience, you will have to produce to the "bank" a revised contract of sale, and a revised PHUD1 reflecting the new offer. You may get lucky and get an expedited approval... or it may take a couple of weeks.

The problem, now, is to hope the buyer's appraisal comes in high enough to permit the deal to fly. If the buyer's appraisal comes in low... the buyer will have to place a larger cash downpayment, or look for another lender.

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• more - NJD 15:59:30 07/01/09 (0)

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