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| *Home>>>Value Investment |
Should we be worried? What are the chances that it could happen? |
We sign a contract with a builder to build our new home last week. Now I have been hearing horror stories from others that if the house does not get appraised for the loan amount or higher we wont get the house unless we pay the difference. Does this happen alot? Should we be worried about it or is it rare to happen? We thought building would be a great investment but now we are nervous that so much could go wrong. Does anyone know of a good website that could estimate the value of a house thats not built yet...(on the sq. footage, # beds and bath)...? Contact a Realtor in your area, tell them you would like a CMA done, (Comparative Market Analysis) Send them an email with all the information, they will discover the home isnt built yet, but they will also probably give you an idea of what the home would sell for by comparing it to other sold properties in that area. Just try to keep the coversation done via email, they are going to want to sell your house and think of you as a prospect. So if you keep it via email you can avoid the hard sell. figure about 125 a square foot.Check housing prices in your area then divide the price by the size and that will give you a better idea for that area. |
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