HOME APPRAISAL
If the buyer is seeking a loan to purchase your home they will need to have an appraisal performed by the bank to verify the home is worth the loan amount. As a seller we want the property to appraise for at least the sale amount or more. It is very difficult to successfully contest your appraisal. An experienced agent demonstrates certain strategies to reveal the value of the home prior to the appraisal.
APPRAISAL COMES IN AT OR ABOVE SALE PRICE
You are in the clear, and closing can be begin!
The buyer may bring additional funds to bridge the gap between appraised value and loan amount The buyer may try to renegotiate the price The buyer may cancel the contract Renegotiate with the buyer to cover the difference Cancel and re-list Consider an alternative all-cash offer APPRAISAL COMES IN BELOW SALE PRICE
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