What if the Appraiser Does NOT Think the Home is Worth the Sales Price | Barb Schlinker

Segment 2
What if the Appraiser Does NOT Think the Home is Worth the Sales Price
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The market is red hot and sometimes the appraiser does not think the home is worth what the buyer agreed to pay.

1. Yes, it’s exciting and very scary for home sellers at the same time.
➢For the 3rd month in a row in the summer inventory went DOWN
➢Some sellers are reaching for the moon on prices and not getting it
➢Others are priced ok but getting bidding wars over asking price putting the appraiser’s opinion of value in doubt

2. We have had a few cases where the appraisers have come back and said the home is not worth what the buyer agreed to pay. This can be very frustrating for a home seller.
➢Options: Lower price to appraisal
○ Say no and get buyer to make up diff in cash
○ Negotiate in between

■Lear Story
1. Price Realistically NOT Optimistically
a. Toms story
2. Look at similar recent and active sales.
3. Condition is big:
a. Its an opinion
b. Try to make the house look nice for the appraiser visit
4. We meet the appraiser, provide similar sales and tell them about improvements
5. You want to hire an agent that’s on your side for this…
a. Monument story (not on MLS sale

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Barb Schlinker, Listing Agent

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