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On The Move... A Blog for Buyers & Sellers!

Golden Plains Realty

Appraisals

This is a big concern that agents, buyers and sellers are sweating out these days. If there is a mortgage involved, this can make or break a deal depending on the outcome. A home’s value is of course influenced by what has transpired around it. If a property appraises for less than what a buyer is paying, then that can trigger a renegotiation or ultimately everyone walking away. As a result in declining home values, a seller may not be in a position to sell the property for a lower appraised value if there is a mortgage to payoff in addition to their closing costs. Read More