We have hit somewhat of a snag on the sell of our house. The lender for the buyer had the house appraised last week and the value according to him came in below the contract agreed upon price. The buyer is going through a Veterans home loan and they notoriously appraise homes low because the bank offers 100% financing. Basically the bank is covering their behind and making the buyer put something down on the house. Another interesting note, the appraiser compared our house to others that did not have near the updates/renovations we do. I have never really understood appraisals....
So, with all this being said we are waiting to hear what the buyer has decided to do. We are praying that he decides to buy our house anyway because I really want to move to the new house. However, we can stay in our house and still be great. Ryan has been so "zen" about the whole situation. I am trying to learn from him : )
Will keep everyone posted...should hear something this week because closing is supposed to be June 12th.
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