Kim Schmal Realtor

What is an Appraisal Gap? 🔑📊

An appraisal gap happens when a home is valued lower than the price a buyer offers. This matters because the bank only lends based on the appraised value, so buyers may need to pay the difference or renegotiate.

Knowing this can help you buy or sell smarter! 💡💰

Breaking Down Closing Fees 🏡💵

Buying a home? Don’t forget about closing fees! These extra costs cover lender charges, title services, inspections, appraisals, and prepaid taxes & insurance. Fees vary, and some may be negotiable between buyers and sellers. Always review a detailed breakdown before closing! 🔍📝