More often than you may realize, a home does not appraise. We've sold quite a few houses this first quarter of the year, and we've had 2 homes not appraise. Here are some things to do if your house doesn't appraise:
- Contest the Appraisal – List out all the improvements done to the property.
- Land Value – The appraiser's opinion of the land value could be off. You can have three different home appraisers come out and each give a different value.
The main course of action to take is listing out those improvements, and giving it to your realtor. He or she will then give it to the appraiser, so the appraiser can potentially make a concession upwards based on the improvements you've invested in for your home.
For more info on this subject or anything real estate call Wayne Turner, Broker/Owner of Turner Real Estate Group, at 985-626-1313 or visit LocalNorthshoreRealEstate.com.