u/Elegant_Plantain_845

Appraisal came low

Appraisal came low and seller wants us to re appeal. It came 7000 lower than the purchase price. We felt from the start that it was overpriced and agreed on this price. We have an appraisal contingency. Their letter for us to send to lender says

correction of the C3 raNng to C2, which removes negative condition adjustments from the appraiser's heavily-weighted Comp #3
• remove one sale comparable as it is 1.83 miles away.
• bracketing data on bathroom count from same-submarket sales
• correction of the missed RV parking and extended patio site improvements
• Direct market evidence from three independent offers on the subject

We told we don’t want to contest the appraisal. Are these even valid points?

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u/Elegant_Plantain_845 — 11 hours ago
▲ 2 r/NewbHomebuyer+1 crossposts

Inspection report how much credit can we ask for this repairs?

First time busying a house and its 2021 construction. It was priced around 748k and we negotiated to 736k with both agents only taking 2% commission each. Below are the details from Inspection. How much can we ask for this from seller for credits?

  • Crawl space moisture/water event
  • Negative grading and erosion near foundation
  • Roof flashing repair
  • Downspout/drainage improvements
  • Kitchen exposed wiring safety item
  • Fireplace gas connector correction
  • Attic ducting and insulation corrections
  • AC condensate drain repair

Got this from our agent:

Regarding the standing water in the crawl space, the seller did not know a drip line was not capped, therefore, it was leaking water from that vent when the sprinklers came on this spring. The sellers had a company come out and cap the line as well as remove all water. The water is also sitting on top of is a vapor barrier as well, so it cannot penetrate down onto any wood. 

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u/Elegant_Plantain_845 — 12 days ago