Legal Question in Real Estate Law in Nevada
I offered $95,000 for a forclosed home.
The bank said it would accept $100,000.
I increased offer to $100,000.
The appraisal came back at $96,000.
Can I get outof this offer and not loose my up front money?
Asked on 12/07/10, 11:14 am
1 Answer from Attorneys
Jeffrey Cogan
Jeffrey A. Cogan, Esq., Ltd.
Did the bank accept the offer? Did you sign a purchase agreement? I would use the appraisal to negotiate down your offer, with a threat by you of not completing the sale. They would have to find a new buyer and that takes time.
Answered on 12/13/10, 7:17 am
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