Appraisal 101: The appraisal came in low. Now what?

The appraisal came in low. Now what? ⁣
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First, don’t stress. There are lots of things you can control in the buying process, but one you can’t? Where that appraisal comes in. Take a deep breath and remember, an appraisal is good — it’s there to keep you from overpaying on a home.⁣
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So what to do when the number is punier than your purchase price? Here are your options:⁣
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- Appeal it.⁣
- Ask for a second appraisal.⁣
- Negotiate the purchase price with the seller.⁣
- Find more cash to bring to the table.⁣
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Now, sellers, listen up; unless you’ve got a cash offer, a low appraisal could be a full stop to your selling plans. Help your home appraise for top dollar by: ⁣
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- Providing the appraiser a list of your offers (if you receive multiple ones) to prove the price was right.⁣
- Cleaning and decluttering to have your home looking its best.⁣
- Being present at the appraisal to point out your home’s features (subtly, of course!).⁣
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Want to talk more about buying or selling this summer? I’d love to connect!