Lehigh Valley Sellers Assist and Appraisals

Sellers Assist is a way for the home buyer to bury the Closing Cost to Purchase a Lehigh Valley Home in the Sales Price. The buyer gets a mortgage for a certain amount and the seller gets an amount equivalent to the purchase price minus the Sellers Assist.

In this situation, the seller is not giving the home buyer money towards closings costs. The Buyers Mortgage amount includes the "closing cost" money. The Lehigh Valley Home Seller is accepting less money for the home. 

Since the Home Buyers mortgage includes the amount of money needed for closing costs what is the big deal?

The big deal is that the House Must Appraise for the Purchase Price!

If a seller agrees to a certain purchase price (minus the sellers assist) the house must still appraise at the purchase price even though the Lehigh Valley Home Seller is not getting that amount.  

If the appraisal does not come in at the appraised value and the buyer has no other way to obtain the closing costs, the home seller will need to accept less money if they still want to sell the house. The other option is to put the house back on the market.