Expert: Dick Dennis - 7/1/2006

Question
I put my house on the market to sell. I have a Realtor and now my house has a contract for someone to buy it. I put it on the market for 125,000.00 my Realtor wrote up the contract for 115,000.00 with a 6% Seller assist.
we had an inspection and the house was apprasied a little over 125,000.00. My question is should my contract be written up for 125,000.00 the going price I put it on the market for.

Answer
As long as a legitimate offer was made by the buyer with a valid earnest money deposit and the seller has accepted it at the price offered (subject to any conditions), then you have a valid purchase agreement. If you haven't signed your acceptance at the $115,000, then you may present a counter offer for any figure you want. But be aware that any counter offer is the same as a refusal and the buyer may walk away if the buyer is not satisfied with the price.

If the appraisal was made because the buyer was applying for a loan, it only shows the buyer that he has a good buy in today's market and if you try to pull out and ask for a higher price, you may be in for a dispute you may not want.

I do wish you well.

Dick Dennis           dixiedee13@aol.com

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