Barb Schlinker The Real Estate Voice

Hello, its Barb Schlinker. Many home sellers worry that when their home is visited by the buyer’s appraisal it may not pass. An appraisal is not another inspection. In fact, when the appraiser visits the home, they are usually there for less than 30 minutes, they take photos of the home, they will sketch the floor plan and take notes of any improvements or issues they see. The lender hires an appraiser to confirm the home is worth what the buyer and seller agreed upon and that it meets the loan guidelines. I bet you are wondering how often appraisals come in low. Low appraisal does not happen very often. if the home is priced appropriately and it's under contract near the price that is close to similar recent home sales, you won't have to worry about the appraisal coming in low. an appraisal is required in most cases by the buyer's lender In order to have a neutral license 3rd party verified the home value. If a buyer is paying all cash for the home, there is no need for an appraisal. As a home