Selling a house is one of the most complicated transactions Americans can make. One of the reasons that make selling a house complicated is the difference between negotiated home values against the values determined by an appraiser. This situation is common in every real estate transaction because of the uniqueness of each property in the housing market as well as the illiquidity of real estate assets.
It makes a lot of sense for sellers to ask realtors the most relevant question while they are interviewing and selecting one, knowing that selling a house is not an easy task. Asking the right questions will empower the sellers to proceed with the transaction regardless of the reason of selling. It will also help the sellers decide if the realtor is really capable of providing the best service and if they match the seller's personality.
One important question you would want to ask a realtor who can help you in selling a house is to ask if they have recently encountered any appraisal issues. An appraisal is defined as an expert's estimate of a home value, and an issue occurs when such value is lower than the expected selling price. This situation is considered an issue because it is where an acceptable loan amount is determined, and having a lower appraisal value would mean a lower acceptable loan amount. Most cancellations of transactions are believed to be caused by this, or the buyer ending up paying more than the agreed upon home price.
Realtors can sometimes have appraisal issues when they are selling a house for the most money possible. It is when they set the bar high for the appraiser, that can sometimes make it difficult for the appraiser to get them to appraise. Realtors will also go the extra mile to provide more detailed info to the appraiser, who is often open for more information that could help them produce a more accurate value of appraisal.
Identifying an occurrence of an appraisal issue therefore is not really the concern while asking this question; it is more of knowing how the realtor deals with the issue. With this knowledge in mind, sellers will be more confident in deciding which realtor can best help them in selling their home for top dollar. Please feel free to contact us, The Exceptional Home Team, to know more how we can help you in selling a house, or your home to be exact.
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