Legal Question in Real Estate Law in Arkansas

To whom it may concern.

I am writing to see advise on situation involving the sale of my home. I received an offer to buy my home and after several counters, the buyer and I agreed on the final numbers. We recently had an appraisal on the home and the value appears to be $20k lower than the sale price. Through Facebook and Linkedin searches, we found out the Buyer is a mortgage loan officer and is using his bank to secure funds. It also apprears sketchy that he may have a relationship with the person who appraised the house (due to the natureof his work and company). I personally feel the Buyer used his personal and company's relationship with the Appraiser to unjustly appraise my home for his personal game.

What can we do? We're certainly not moving forward with selling of the house but feel this issue will impact the sale in the near future.

Asked on 4/19/12, 1:44 pm

1 Answer from Attorneys

Chad Oldham Oldham Law Firm, PLLC

You should definately visit with a real estate attorney in your jurisdiction.

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Answered on 4/19/12, 1:50 pm

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