Posted by Gerald-NC on June 11, 2006 at 21:16:11:
Appraisal will come back at a “true” ARV. It could be $105k and then again it could $95k. What the lender would need if it comes in lower than your selling price is the buyer to put down the other amount left, or you take back a 2nd note on the left over amount.
They won’t come up to $105k just because someone is willing to pay that much. They be more lenient on their appraisal but they won’t go too far.