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Real estate agents, as trusted guides for their clients, must possess a good understanding of the factors that influence propertyappraisals. In this blog post, I’ll discuss key appraisal factors, and common challenges, and offer valuable insights for real estate agents to navigate the appraisal process effectively.
You can employ his strategy which is to offer to make up any shortfall in the appraisal with cash from the buyer to pay the seller, go with a new lender, appeal the appraisal which hardly ever works unless there factual errors as suggested by Mr. Goldberg or might I suggest an ounce of prevention is worth a pound of cure as quoted by….
If there are few recent sales in your area, it can be challenging to establish an accurate appraisal value. These are locations that a potential buyer would also look at and that would provide a similar alternative. Inaccurate Property Information: Incorrect property information in public records can lead to inaccurate appraisals.
Mistakes Real Estate Agents Need to Steer Clear Of 1) Not providing an information packet to the appraiser – An information packet is the easiest thing to share with the appraiser. Most agents put together this information for potential buyers so why not share it with the appraiser?
Conducted by a licensed appraiser , the appraisal plays a critical role in the mortgage process by determining the loan amount your lender will offer. In this blog, we’ll cover home appraisal key components, the process, factors influencing values, and tips for buyers and sellers.
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