Highlands Real Estate, Low Appraisals
Low appraisals can occur during the sale or refinancing of Highlands real estate. A low appraisal has the opportunity to throw a wrench in a transaction but it does not have to mean the end of a sale. If a low appraisal occurs your Highlands REALTOR will be instrumental in walking you through your options.
A low appraisal does not have to kill a Highlands real estate deal. In fact, a low appraisal should be questioned. There are times when an inexperienced appraiser or an appraiser from another area may appraise a home and be wrong. In addition comparative properties used in the process could be the wrong properties to use, perhaps in a different neighborhood or with far fewer upgrades and amenities. A buyer can request another appraisal if the original appraisal is thought to be incorrect.
If a low appraisal is justified there are options as well. A seller can come down in price. In addition a buyer could bring more cash to the table if his heart is set on the property in question. Your REALTOR will help you evaluate which decision is best for you, walk away or continue to negotiate.
Contact me, Lynn Kimball, today to learn more about real estate in Highlands NC. I welcome the opportunity to update you on current market conditions while getting you up to speed on the buying process. Let my knowledge and experience serve as your guide to Highlands real estate.
Click here to read “Owners, Appraisers Disagree on Home Values” from REALTOR Magazine.