out of area appraiser: Don't Wait for Low Appraisal to Kill The Deal
- 09/13/11 06:53 AM
Why are you waiting for the appraisal to come back? I am an appraiser, I know this process. Before we even call you to set an appointment at the site, we have already looked at the MLS of the subject, and our software has automatically pulled nearby sales comps. If the home you are selling is in the mid-level of area prices, you might be okay. However, if it is nicer than average, more upgrades, better views, or other elements, my comps are not going to help your deal, and they may kill it. My first batch of comps is strictly by … (2 comments)
out of area appraiser: NAR: 11% Agents Lost Sale with Low Appraisal: Appraiser Gives Tips to Avoid.
- 05/20/11 05:06 PM
The latest word from the National Association of Realtors confirms what many hard working agents are also seeing. The present system by major banks of assigning appraisers is causing many solid home sales to fall apart, due to low appraisals. The 05 19 11 story by Walter Molony quotes NAR Chief Economist Lawrence Yun: “… a steady level of low appraisals that result in contract cancellations”. http://www.realtor.org/press_room/news_releases/2011/05/sales_ease Appraisals are not just crunched numbers, they truly are as much art as science, just like the buyers’ emotional response to the market supply. Any agent can tell you of the many times a … (6 comments)
Why are you waiting for the appraisal to come back?
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