I experienced a ‘First‘ in my real estate career the other day.
In my 10+ years as a professional agent, an appraisal for one of my listings here in Kitsap County WA came in ‘under‘ value. In other words, an appraiser was sent out to determine if the home they were buying was worth what they had agreed to pay my Sellers. Unfortunately, the Appraiser's NOV (Notice of Value) posed a significant shortfall from what both Buyers and Sellers had previously agreed to pay per contract.
Did I happen to mention that the Buyer's are using VA financing?
Yes, that's right Virginia, the Curse of the VA Appraisal STRIKES Again!
For those of you familiar with my articles here on ActiveRain and over on SOUNDBITEBLOG, you know that I've written on this topic on a number of occasions, such as:
"Very Arbitrary" = VA Appraisals in Kitsap County WA
"Curse of the VA Appraisal in Kitsap Couty WA"
"Death of a Dream" - VA Appraisals Re-Visited
"VA Appraisals and The Luck of the Draw"
Maybe you're in the same boat and that's what's brought you to this article. You've come to the realization that "VA Appraisals are like a Box of Chocolates - you never know what you're gonna get!"
What are your options as a Seller when a VA Appraiser's Notice of Value comes in low?
To find the answer to this and many other heart-wrenching questions, go to SOUNDBITEBLOG (opens in a new window for your viewing ease)
~ o ~ o ~ o ~ o ~ o ~
Rich Jacobson is a licensed real estate professional providing knowledgeable empowerment and relentless representation for his clients of residential properties and vacant land throughout all of Kitsap County WA and portions of Pierce, Mason, and Jefferson Counties. You can also find him at KitsapLife.com, SOUNDBITEBLOG, Crabbing in the Hood, Facebook, Twitter, or e-mail: email@example.com