Posted by Tim Fierro (Tacoma, WA) on February 11, 2002 at 24:52:26:
BUT, what is the FMV (Full Market Value) of the home? What are the buyers willing to pay for this home?
Did you know that the average of $188,500 & $201,500 is really $195,00 and not $200k? Appraisals are fine for verifying funds needed, but you still need to find out what the buyers are willing to pay. If they are only willing to pay $180k, and you subtract any excise tax/fees/advertising; what have you left?
You have the appraisals, now go find out how much it will actually sell for with the buyers in the market.
I hope it all works out for you.