How to Deal with a Low Home AppraisalJuly 11, 2014
Let us be frank, the decision to sell your piece of Destin real estate is no small feat. It can be time-consuming, emotional and downright exhausting. However, that moment when you find the right buyer with the right price makes all of your â€śblood, sweat and tearsâ€ť worth it, right?
Even though you can hear the sweet sounds of a deal closed and a contract signed, there is one thing that threatens to derail your efforts: a low appraisal. An appraisal is typically part of a lenderâ€™s process. The majority of the time this goes smoothly, but when it does not there are ways to combat it.Â
Real estate agents can challenge a low appraisal in a few ways. First, they can ask the buyer to make up the difference between the offer and the appraisal. Because this is not always possible, you could consider an appeal. Be prepared to present solid data from recently sold homes in the area and your home.Â
Like most things in life, communication is key. Whether you are thinking about buying or selling a home, talk to a RE/MAX agent today. They have a variety of tools and resources to help you take action in all of your real estate endeavors.Â