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Sellers, the importance of understanding the appraisal process
Beverly Herdman hits a home run with this discussion of the appraisal process and how that can ultimately affect the successful sale and closing of a home.  We really do need to keep in mind that, in most cases, a property must not only pass the test of a meeting of the minds between the buyer and seller, but also initially impress the prospective agents enough (based upon the property's condition and price) to want to introduce their buyers to that property.  Then after a contract is in place, that property and contract must also hurdle the challenge of a home inspector's assessment and lastly, measure up to the bank's estimate of value.  A hitch in any of one of those critical steps can create a downward spiral that does not end well for the seller.  As Beverly noted, pricing right at the outset can set the stage for the final act (the loan approval) ending with applause from the parties involved.
I hear it all the time,
 But my home has several upgrades and updates, vaulted ceilings, hardwood floors, granite, new appliances... the list goes on. 
What does this all really mean with the sale price and the ability to get ... more

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