Is a low appraisal good for the buyer?
Posted by The Cobb Group on
Ask the next ten real estate agents you meet to tell you the biggest reason why a deal falls through. The odds are every single one will say it’s because of financing, usually because of a low appraisal.
But the fact is, a low appraisal can be good (and bad) for a buyer and there are ways to salvage the transaction and get the property you want.
In this article, we’ll explain the biggest reasons for a low appraisal, how to get the appraisal that matches the purchase price, and what to do if your home appraisal comes in low.
What is an Appraisal?
One of the common contingencies in a real estate purchase contract is that the property must appraise for the purchase price. A home appraisal is a report provided by a licensed professional that…
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