I have booked a preconstruction for 1.3 m . Similar properties around that area sell for 1m . My question is how does Appraisal work . My closing is in 3 months but stressed . Can anyone help how appraisal works . Do they appraise new construction higher than the resale properties

likehelpful
Posting as :
works at
You are currently posting as works at

You will have to front that $300k shortfall. Next time be smarter with your financial decisions, goodluck

There’s a very good chance the bank will still appraise it at the purchase price. If they don’t:
- get a another appraisal
- work with the builder to lower the price on closing (very rare)

But as RSM 1 said, if those fail and it’s appraised lower you come up with the difference.

Sorry to hear that

Related Posts

Hi Guys,

Can you please tell me in hand Salary

- how much will be tax deductions - &

- how to save tax

Post Photo
like

27 yo M living at parent’s in Dallas, TX since August but job out of NYC (haven’t been in person yet since joining). I enjoy time with parents, have a good setup, & saved a lot of $ but eager for independence/be in the city and want to start dating. Have ~$90k in savings/invested with no debt but still hard to justify paying rent w/ uncertainty of covid/back to office. My thoughts were to aim for moving when weather warms (~March) but on fence. Would appreciate thoughts from anyone in same 🛳.

like

People worrying today should read books on trading psychology! Not being patronizing- it will help you in the future, not just for investments but for doing better in life!

like

Living in Van. Previously lived in Toronto. Obviously rent prices are high as is cost of living. Generally go out and spend more often living in a city. Boyfriend and I on good salary but not saving much due to the above. Before we move home to our own country, we’d love to spend a year close to Vancouver where rent is cheaper, temptation is less, to save. A commute to Vancouver 1-2 times a month needs to be possible (his job). That can be a flight if it’s not crazy. Thoughts? Recommendations?

likehelpful

Hello and happy Thanksgiving! What are the pros and cons of living in San Diego vs San Francisco? I’m from NY and looking to move to one of those locations. I’m hoping to get more info on rent, dating, entertainment, taxes, and job stability.

like

Looking for good books on investing. Open to anything- real estate, stock market, etc. please leave any suggestions on what to read and anything to avoid - thanks fishes!!

like

As cases are going up and market going down. What do you guys think of 401k distribution?

Post Photo
like

First gen grad working in Corp America so had to learn stuff like investing from scratch. I deposited funds in my IRA and invested those in some stocks. This was early in my learning journey. I've since learned about Roth IRAs and their tax benefits and would love to convert but I own some stocks that I bought relatively cheap and would hate to sell. Any way for me to convert to Roth while holding my stocks?

like

I am happy with my current role but have a got an opportunity at a startup where there is an opportunity to make a lot of wealth. So confused!

like

Could anyone please clarify this?

Is the tax exemption limit (of 25000) under 80DDB for both parents or 25000 for each parent?

So in short - 25K+25K = 50K for Both Parents or is it just 25K for both.

like

Pros / cons / watchouts for employer 401k rollover to an IRA?

like

My father took a home loan, and the same home is kept as mortgage.
I'm paying arround 22k emi for the same but unable to exempt tax as the loan is on my father's name.

I googled a lot how to transfer it but neither gift deed nor sale deed would work as the property is on mortgage that's under bank's ownership (until loan is fulfilled).
Tax is also getting deducted, I'm paying hefty emis.
What can I do?
Please advise 🙂

likefunny

How much are you guys able to save each month?

Provide Age & salary for context etc.?

likehelpful

Maybe I'm an idiot (maybe) but I am trying to search Airbnb and vrbo for places that have 1 month minimums. My primary residence is in a vacation destination and I want to rent it out for 1 month next year. I want to do a market comparison to other properties that only will rent for a month and not by the night. I know that these platforms will total up the nightly rate and some have a discount. The point is to specifically see only the properties that rent by the month, not nightly and monthly.

like

If anyone is interested in learning more about personal finance please let me know. My friend and I are teaching a class tomorrow night where we discuss all aspects of personal finance.

We’ll cover 401k, IRA, Roth, debt, ETFs, savings, budgeting, etc.

If this interests you please PM me and I’ll send you the details.

like

For Fuel reimbursement, we need to give actual bills? What us the process to get 1800 tax free per month

like

Newbie to investing. What are good online courses / books to get smart on investing?

like

How are paychecks taxed when staffed out of state — are you double taxed by your home office and project site states?

like

Am I missing anything? (Yes, I know there are 100,000 401k calculators online)

Post Photo

More Posts

How is SAGITEC Pune ,
Is it a good company to switch in ?

like

Looking for referrals for production support and developer roles
Skillset: Linux/Unix, shell scripting,
Oracle DB, SQL,
Development: C, C++, COBOL, Java
Anywhereworks

like

Has anyone used Insmark software for their illustrations? We were thinking of buying it for the premium finance cases. Compliance says it's better to use outside software because it reduces liability.

like

It’s 2022. No excuse Why at least 50%-75% of every class at all levels aren’t women + minorities. No excuses. Make it happen or be left behind.

funnylikesmart

How did you get started in your career as an FA? I work in the home office and have been an assistant to an FA before. I have a network, I have ambition, I have credibility and connections at my firm..

like

For those of you on a dedicated people analytics team, what is WLB like?

like

Anyone watching Indian Matchmaking? Aparna and her mother have to be the worst, right? She thinks she's a godsend and quite frankly she looks like a potato, is ignorant, doesn't sound nearly as intelligent as she professes to be, and is even more negative than I am! That's gotta say something.

likefunny

Spending Thanksgiving in NY with friends. Suggestions on things to do?

like

To those who have delivered. Are they still doing photography at the hospital after you deliver?

like

Anyone on H1B visa whose i140 was filed recently using premium processing? PwC law team mentioned an out of pocket fee of $2440 for filing and legal fee. Wanted to check if this can be waived off?

like

Hi guys, yoe: 18; tech: Java j2ee cloud tech leadership..looking for Director level roles in Hyderabad in product companies. Cctc:55Lpa; What's ideal ctc to look for?

like

For those of you that have your own book of business (big or small), how did you go about getting your own clients? I do not live in the state that I grew up in/went to college in so most of my connections are law-school related. Even if I did, I grew up in a blue collar town so any connections I do have there wouldn’t materialize into a client base. I’m a 4th year now and really want to start growing a client base but have no idea how. HELP. I do corporate transactional law in mid-tier market.

like

So based on my forecast I’ll be 5 segments away from Diamond on Delta this year... Anyone think it would be worth attempting to get those 5 extra segments somehow??

like

At this point in the game it doesn't make a difference where you at everybody is getting laid off at one point or another the only thing I say is try to repair yourself for it if it happens to you

like

I am doing a shoe focus group. Any F want free shoe?

like

I’m now 1 month sober after spending 2 weeks in rehab. Before that I was drinking every day, work was suffering - family life was suffering. I am going through a divorce right now which hasn’t helped. However I’m pleased to say I have lost weight, I’ve gained muscle mass through an intensive weight training program and I feel better and happier than ever before. It IS possible to beat this !!

like

When will EY FDD promotion be communicated in the summer? Will we know before it was communicated officially in the group?

like

Additional Posts in The Toronto Bowl

Does Google health or Amazon health have a Canadian arm? Would love to have a chat with someone if they are involved in that area or a similar segment

like

Looking to go back to school for software engineering any tips?

like

Best shopping things for sale right now?

like

Hey guys. So I am an actuarial analyst who got started about three months ago. I had a chance to do a data scientist intern, which I really loved. I am three months into the full time position as an actuarial analyst and I am finding the job not as exciting. It certainly isn’t what I have expected. Does anyone have any experience of moving out of the actuarial world to the data science role? How hard was the transition? What are the steps that you took? I am seeking for advice and help! Thanks!

like

Hi Toronto (and GTA)

What should be the salary of a senior seo manager at a decent sized agency in Toronto. I am being offered 110k base + 20% bonus for hitting retention and revenue targets.

I have 8 years of experience in SEO, SEM and paid social

like

What are your salaries?

like

Rip anyone with a variable rate mortgage

like

Anyone here work for consumer companies in Toronto and open to sharing their experience?

like
like

Anybody down for a quick meet up today? We can grab a coffee/ drink of your choice. Just moved here and WFH has me really fried.

like

Big 5 bank folks, how were your hikes this year ? Pls share Level & Hike.

like

Anyone who travels from Mississauga to Midtown Toronto (Yonge-Eglinton) for work and is willing to carpool?

like

Hi Team,
I am joining Deloitte soon, before putting down my notice with my current employer the background investigation team informed me that except the current employer all elements are completed and finalized. The Current employer verification will be done before the week of the start date. Is it ok to put down the notice now or will there be any additional investigation that needs to be completed that might impact the start date.

like
funnylike

Curious if anyone knows anything about a company called dentalcorp?

like

Does anyone have any advice on how to shift from a specialist (paid advertising) to a more strategic (in digital marketing) role? I've been job searching for a couple of weeks and would love to be considered for roles outside paid advertising but it seems to be extra challenging this time of the year.

like

Did anyone gave interview for Research Consultant in Scotiabank?

like