Kyle Martin, Realtor

It happens from time to time. The home appraisal comes in LOW 📉😱

With how quickly this market is appreciating, comparable sales can be lagging, which causes what we call an “appraisal gap.”

What can you do in this situation?

IF YOU’RE A BUYER:

✅ Submit recent comps to your appraiser for consideration
✅ Add appraisal gap coverage to your offer
✅ Waive the appraisal contingency (in some cases)

IF YOU’RE A SELLER:

✅ Don’t accept an offer solely on price
✅ Look at a buyer’s mortgage qualifications
✅ Look at conditions – such as waived contingencies

Read my latest blog post to learn more about how appraisals work and the benefits and risks involved with these competitive tactics.

🔗 https://kylermartin.exprealty.com/blog.php