Barb Schlinker The Real Estate Voice

What if the Appraiser Does NOT Think Your Home is Worth the Sales PriceSegment 3What if the Appraiser Does NOT Think the Home is Worth the Sales PriceWe are back with Barb Schlinker, Barb…Barb, I’m told the market is red hot and sometimes the appraiser does not think the home is worth what the buyer agreed to pay, tell us about that.1. Yes, its exciting and very scary for home sellers at the same time.a) For the 4th month in a row prices are spikingb) Some sellers are reaching for the moon on prices and not getting itc) bidding wars ARE COMMON2. We have had a few cases where the appraisers have come back and said the home is not worth what the buyer agreed to pay. This can be very frustrating for a home seller.a) Options:  Lower price to appraisal1. Say no and get buyer to make up diff in cash2. Negotiate in between1. HaystackThe Elephant in the Room – Bidding OVER its ValueMany agents are making offers like that …just to get a contract then.If it doesn’t appraise…weeks later, some agents think the seller mus