How to Avoid a Messy Situation During the Appraisal Period

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Today I want to talk about what happens when a home doesn't appraise to a certain list price. The whole point of an appraisal is to ensure that a bank or a lender is lending the right amount of money to a consumer, and they do this by ensuring the home is worth what it is being sold for.

So, to use an example, let's say you put an offer in on a home for $800K and the appraisal comes back saying the home is only worth $750K. If you're a buyer, this will give you a way to negotiate the sale price down to that level. Your buyer's agent should be able to accomplish this, or you might be able to meet in the middle somewhere.

If you're selling the home and it doesn't appraise out to the amount that you want, your agent could also contest the appraisal by finding comparable properties in the area. If your agent can prove that $800K is a fair and accurate price, you could get your buyer to pay that amount.

There are a lot of different things that can happen when a home doesn't appraise, and it can happen on either side of the transaction. The best way to handle these issues is simply to have a great real estate agent representing you.

If you need any further assistance buying or selling in the Bay Area, please don't hesitate to contact us!

About

I'm a full time real estate broker with over 13 years experience in the industry. Consistently ranked in the top 1% for closed sales in the East Bay, we specialize in helping homeowners sell their home for the most money and in the shortest time. My full service team includes dedicated buyers agents, full time marketing experts and more. We use some of the most cutting edge marketing available to help get you top dollar for your home. My background and education in information systems, web programming and technology sets me apart from other real estate professionals.

Whiteboard animation can be a very effective tool in marketing your home to potential homebuyers. By using an artist rendering of the interior and exterior of the actual home for sale, we can tell a story of the entire home purchase process of the sellers’ property. To learn more about how whiteboard marketing can be used to sell your home Click Here

"When it comes to selling your home, our goal is simple: to use the latest in imagery, technology and marketing to sell your home for the highest price in the shortest amount of time."

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Scott Fuller
DRE#01334119
The Scott Fuller Team
Keller Williams Realty

760 Camino Ramon, Ste. 200
Danville, CA 94526

925-855-3432
scott@thescottfullerteam.com

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