Tag Archives: Agents Try to Find Work-Outs After Appraisals

Appraisals that come in lower than the agreed-upon sales price are a source of frustration for home buyers, sellers, and real estate professionals, as they can quickly derail a deal. If an appraisal comes in 10 percent lower than the agreed-upon sales price, for example, a bank will likely only agree to finance the lower value, which means either a buyer must make up the difference, a seller must come down on price, or the deal falls apart. Homes for sale in declining markets are particularly ripe for appraisal problems. […]