I don't know about you, but here in SW Florida we are generally concerned about appraisals coming in high enough. For the most part we have managed to do pretty good.
Like most sellers, ours thought her property was worth more than the comps would support. We listed her property on the high side, what we considered by the comps to be overpriced by $5K-$10K. We would bring her an offer and she would not accept it because it wasn't high enough. Most agents would agree that the property was somewhat overpriced. Then she decided that she would not take any less than full price for the property.
We got an offer for full price, plus seller concessions on top of that. Needless to say, we were on pins and needles about this one. We got the appraisal back today and the property appraised for $1,000 over our contract price.
I don't know how the appraiser came up with that value (haven't seen the appraisal), but I am not complaining! I have been doing this for a lot of years and have always felt like I was on top of these values. I tell buyers, and sellers, that appraisals are somewhat volatile. New sold comps can come in anytime (higher or lower) and change the whole value structure. Thankfully, this time it appeared to be higher.
Comments(1)