Why is the Buyer Unhappy With a Low Appraisal?

By
Real Estate Agent with Lyon Real Estate BRE #00697006

No matter how many times I say it, still a bit astounding when people exhibit narcissistic behavior, as though the world completely revolves around them. I want to fall back on logic and believe they will eventually see the other side or at least one other way of looking at the situation, but no. Sadly mistaken. Too wound up in their own existence. To some extent, aren't we all?

After soothing over sellers' expectations over a low appraisal, I was also prepared for the buyer to be unhappy about the low appraisal. Never met the buyer, and I know nothing about the buyer except it's a lowballer buyer. Which I guess is all I need to know. Because if the buyer can't lowball, the buyer is not all that interested. Believe it or not. It was the case of a buyer crying the appraisal is too low. You can read more in my personal blog today at this link: Why Appraisals Rarely Exceed the Sales Price in Sacramento.

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Certified HAFA Specialistelizabeth weintraub

 

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Elizabeth Weintraub is an author, home buying expert for About.com, a Land Park resident, and a veteran real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento, as well as tract homes in Elk Grove, Natomas, Roseville and Lincoln. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout the four-county Sacramento area with an emphasis on Elk Grove. Call Elizabeth Weintraub at 916.233.6759. Put 40 years of real estate experience to work for you. Broker-Associate at Lyon Real Estate. BRE License # 00697006.

The Short Sale Savior, by Elizabeth Weintraub, available with free shipping.

Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.The views expressed herein are Weintraub's personal views and do not reflect the views of Lyon Real Estate. Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice; it could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.

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Rainmaker
2,483,767
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Say what, Elizabeth? You mean it really isn't all about me??? What a bummer! No doubt a lower appraisal is not a happy event for a seller and here we tend to negotiate out a solution, but I've yet to hear about a buyer complain that they might need to pay less for a home. 

Jul 21, 2018 01:06 PM #1
Rainmaker
364,344
Chris B Johnson
Allison James Elite - Moorpark, CA
REALTOR®Quality Not Quantity #ChrisBJohnsonRealtor

Just when you think you have heard, or seen it all.............

Thank you for the Update and info Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents  !!

Jul 21, 2018 04:03 PM #2
Ambassador
3,377,368
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Elizabeth- You really need to put some of these stories in a book. Sometimes, don't you wish you could peek inside their head and see what's going on. 

Jul 21, 2018 04:20 PM #3
Rainmaker
3,659,733
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Well when this happens it will be our fautl.  Most appraosals ae dooming in just above the purchasse price

Jul 21, 2018 05:54 PM #4
Rainmaker
2,032,251
Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

Nina Hollander I'll go into more detail if this particular transaction ever works itself to closing, as it's been a struggle from inception.

Jul 21, 2018 05:58 PM #5
Rainmaker
2,032,251
Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

Kathy Streib I had a very good idea what was running through their brain because I saw how they initially approached this purchase. You'd be amazed at how people rationalize what they do.

Jul 21, 2018 06:00 PM #6
Ambassador
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

I had a buyer on my listing complain that the appraisal should have cme in thousands over the sale price and wanted to argue with the appraiser. These are funny times.

Jul 21, 2018 08:17 PM #7
Ambassador
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Michelle Carr-Crowe-Top 1% Diamond Certified Real Estate Team Sells Cupertino San Jose Homes-Just Call 408-252-8900
Get Results Team...Just Call (408) 252-8900! - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

Thanks for sharing this; just had my first low appraisal-and it was in Sacramento County!

Jul 21, 2018 10:46 PM #8
Rainmaker
3,610,717
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Elizabeth, wow, only if the appraisal comes in low, and the Seller will not reduce the price.    Last fall had buyers that had to bring $10K more to closing, as the Seller dug in their heels and would not reduce to the appraisal amount.

Jul 22, 2018 06:06 AM #9
Rainmaker
2,032,251
Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

Debbie Reynolds Similar thing here. Buyer is NOT happy with that lower appraisal because it means there is no whopping discount. They're just buying a home at market value like every other buyer out there, and that ticks them off.

Jul 22, 2018 08:32 AM #10
Rainmaker
2,032,251
Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

Michelle Carr-Crowe-Top 1% Diamond Certified Real Estate Team Sells Cupertino San Jose Homes-Just Call 408-252-8900 It is very rare to get a low appraisal in Sacramento, well, unless you're trying to price a home from out-of-area, LOL.

Jul 22, 2018 08:34 AM #11
Rainmaker
2,032,251
Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

Joan Cox Not the case here. Sellers willing to sell at appraised value. Buyer says no, if it's only worth that amount, I want to pay even less.

Jul 22, 2018 08:35 AM #12
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Rainmaker
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