The appraisal came in low. Now what?
First, don’t stress. There are lots of things you can control in the buying process, but one you can’t? Where that appraisal comes in. Take a deep breath and remember, an appraisal is good — it’s there to keep you from overpaying on a home.
So what to do when the number is punier than your purchase price? Here are your options:
– Appeal it.
– Ask for a second appraisal.
– Negotiate the purchase price with the seller.
– Find more cash to bring to the table.
Now, sellers, listen up; unless you’ve got a cash offer, a low appraisal could be a full stop to your selling plans. Help your home appraise for top dollar by:
– Providing the appraiser a list of your offers (if you receive multiple ones) to prove the price was right.
– Cleaning and decluttering to have your home looking its best.
– Being present at the appraisal to point out your home’s features (subtly, of course!).
Save this post for later, and let us know if you want to talk more about buying or selling this summer. We’d love to connect!
