Did you know you have to sell your home twice before closing?

by Brooke Shepherd

 
You've worked hard getting your house ready for every showing. Dropped everything because you had to get the house ready for a showing. Shoving items in the closet, oven and anywhere else you can think of to make sure the house looks amazing. You get the full asking price and you're are pumped!!! Then.... the appraiser comes... Will you sell to him/her?
 
An appraiser doesn't get the same perspective that the buyer has gotten or the seller. They look inside your house and then they look at the other homes that have SOLD via the MLS. The catch is that they can't go inside the homes they are comparing it to.  They just look at them on MLS and see those photos and descriptions. How many times have you looked at homes on the MLS and thought they were great and you go see them and they aren't so great. Now flip it, how many homes have you seen on the MLS that you weren't excited about because the pictures didn't do it justice, but it was a great home! Well the MLS description/photo is all the appraiser gets when comparing.
Because of the market crashing a few years ago, lenders have been harder on the appraisers, which means the appraisers are being less flexible on price. Right now we have we are in a seller's market, people are in bidding wars. Which is great for the seller, except... They still have to get it appraised.
All of that to say. Be cautious on how you price your home. Because you may be able to get somebody to buy it at that price, but that doesn't mean the appraiser will see the value in that price.  Then 10 days before closing the deal is possibly falling through.  Which is horrible for the seller and the buyer.  Just because an agent tells you what you want to hear, doesn't mean the appraiser is going to agree.

GET MORE INFORMATION

Brooke Shepherd

Agent | License ID: EA100002429

+1(719) 432-8485

Name
Phone*
Message

By registering you agree to our Terms of Service & Privacy Policy. Consent is not a condition of buying a property, goods, or services.