How Home Sellers Can Limit Appraisal Issues
Posted by Hank Miller on
Atlanta home buyers and sellers know the chess game that the '20-'21 real estate market has been and continues to be. The shortage of housing inventory around the greater Atlanta market is well known; there's no cavalry on the horizon. Buyers are bruised and beaten, just about all having lost more than once during multiple offer situations. The idea of offers over list moved from "only if we need to" to "how much over". Sellers should be loving it, but there's one catch; appraisals. If the appraisal comes in low, that big seller payday may not materialize. Sellers have to nail that back door shut and keep buyers from playing games.
Under List? Surely You Jest
Let's all acknowledge that the greater Atlanta real estate market (2021) is about as strong…
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common expression involving excrement and then “now what happens”? The buyer’s loan amount is based upon the lower number between the contract price and appraised value. Experienced agents usually understand how to limit real estate appraisal issues, but it sometimes happens. The argument “the market dictates value” may be true, but appraisers write reports for underwriters and there are strict protocols that they must follow.