Don’t let a low home appraisal disrupt your sale. You have options.
What options do sellers have if their homes appraise for less than their asking prices? Despite rising interest rates shrinking your potential pool of buyers, now is still a great time to sell your home. Home prices are still increasing, just not as quickly as over the last couple of years. However, rising home values can also present a challenge for sellers. What can you do if your buyer’s appraiser values your home at less than you want to sell it for?
You can listen to my full explanation in the video above or skip to each topic using the timestamps provided:
0:00 — Introduction
0:25 — Why it’s an issue if your home appraised for less than the asking price
1:16 — Option No. 1: Hire the best team
2:32 — Option No. 2: Review the appraisal thoroughly
3:14 — Option No. 3: Negotiate with the buyer and their agent
4:24 — Option No. 4: Encourage the buyer to use another lender
5:00 — Option No. 5: Try to renegotiate
5:17 — Option No. 6: Cancel the contract, and start the whole process again
6:07 — Wrapping up
If you have any questions about the appraisal process or anything real estate related, call or email me. I’d love to connect with you!