http://www.myworldfinance.com myworldfinance.com Tue, 29 Nov 2011 09:18:04 +0000 en hourly 1 http://wordpress.org/?v=3.0.4 http://www.myworldfinance.com/hoping-for-a-fast-house-sale/ http://www.myworldfinance.com/hoping-for-a-fast-house-sale/#comments Wed, 19 Aug 2009 21:36:02 +0000 admin http://www.myworldfinance.com/?p=48 I was hoping I would have a fast house sale but the current credit crunch and the new appraisal standards aversely affected the sale of my home. I accepted an asking price offer for my home. Offer came within 3 days of listing my home. The loan was an FHA loan with 5% down. It was going to take 45 days to fund. The biggest challenge was going to be the appraisals. It was going to take at least 3 probably 4 appraisals to get the loan funded. The initial appraiser worked with the bank and realtor’s finding 3 comparable sales that supported the funding of the loan. When the lender did a desk top appraisal the denied the three local appraisals and cut their willingness to fund the loan by 15%. Needless to say the deal fell through and I have had to find a renter for my home.

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