Posts

Appraisers Can’t Push Values; Must Avoid Reviews/Cuts

APPRAISAL COMES IN LOW We had an appraisal come in slightly under contract price this week. What made it a surprise was the fact that there seemed to be ample comparable sales to support the value (unusual in this market, to say the least). So, when the appraisal came in low, both agents, the seller […]Read More

Low Appraisals – 5 Options When Appraisals Come In Low

Whenever an appraisal comes in under contract price, we work quickly to consider all options with both agents and buyers, and we can usually resolve appraisal issues within a day if everyone is responsive. Below are five of the options available when an appraisal comes in under contract price. 1. Rebut the appraisal. This approach […]Read More

Appraisers Can’t Ignore Low Comparable Sales; Agents Should Not Either

APPRAISALS COMING IN UNDER CONTRACT PRICE B/C MARKET’S SO HOT We are seeing appraisals come in under contract price more frequently than normal again b/c the market is so hot and buyers are bidding so aggressively. This is not b/c our appraisers are not trying to support contract price; it is b/c appraisers simply lack […]Read More

Appraisal Issues – Low Values, Delays & Why; When Summer = Spring

Our Social Media Manager recently noted a lot of comments on social media  regarding appraisal issues – both low values and delays. The conditions that foster these issues are worse than ever right now and I wanted to discuss a few reasons why. LOW VALUES: WHEN SUMMER = SPRING Spring is usually the issue. Appraisers […]Read More

Top Five Options For Low Appraisals

Whenever an appraisal comes in under contract price, we work quickly to consider all options with both agents and buyers.  We can usually resolve appraisal issues within one business day if everyone is responsive.  Below are five of the options available when an appraisal comes in under contract price. 1. Rebut the appraisal. This approach […]Read More

If Appraisal Comes In Low, Buyer Not Overpaying; Realtors Buying Properties

When Appraised Value Does Not Equal Market Value We have a buyer who was convinced she was “overpaying” for her property b/c her appraisal came in low. But, there were multiple offers for her property that were very close in price to hers, and there are nearby pending sales that are also similar in price. […]Read More