Don't Let Appraisal Mistakes Kill Your Home Sale!

A homeowner is excited about receiving an offer on their home and being able to negotiate an agreement to sell a a satisfactory price only to find out later, sometimes much later, that appraisal mistakes may jeopardize the sale. Often an appraisal is not given much thought by a seller as the seller's focus is generally getting their home sold and getting the price they feel the home is worth. Some sellers may even think the appraisal is really not their problem but instead the buyers problem as the appraisal is part of the buyers loan process and is therefore between the buyer and the lender.

The truth is the appraisal is more important to the seller than to the buyer and, in fact, the appraisal, and appraisal mistakes, can, and often do, work in favor of the buyer. How? If a buyer is obtaining financing, then the sale is going to be contingent upon the buyers ability to obtain a loan and the buyer's ability to get a loan is largely dependent upon the house appraising for a value at least equal to the price the buyer has agreed to pay. If the house appraises for less than the agreed to sales price then this typically gives the buyer the ability to renegotiate the sales price down to the appraisal amount. If the seller does not agree to lower the price, then the contract often gives the buyer the right to back out of the deal leaving the seller without a buyer often times only a week or so before the expected closing date.

What can a seller do to avoid appraisal mistakes?

Fortunately, there are many things a seller can do, even before reaching an agreement to sell their home, to avoid having appraisal mistakes during the sale. There are also important things that need to be done when negotiating a sale to help lessen the chances of an appraisal problem down the road. Finally, there are even things that can be done after an appraisal problem arises to have the best chance of resolving the issue without just lowering the price. Find out this, and much more, by obtaining our special report, How Sellers Can Avoid Appraisal mistakes And Have A Smooth Sale. You can obtain instant access to the report at no cost by simply requesting it using the form below.