Will It Appraise For That

Dated: 07/17/2012

Views: 2494

In the last few weeks, appraisals have become a problem again.  With inventories down 10+% over last year and buyers up 10+% over last year, prices are also up in the Greenville SC market, nearly 5% higher than this time last year.  Recent sales, however, are not keeping up with what buyers are now willing to pay for the limited inventory.

 

When you’re ready to make an offer, make sure your buyers’ agent does the due diligence needed to make sure the house will appraise, especially if you need financing.  There’s NOTHING worse as a buyer than to spend money on inspections and appraisal to find out it won’t fly.  Most times, the seller will negotiate on the price or help pay for another appraisal, but if they won’t, you just lost what you spent.  Now, that loss will save you money in the long run, but hiring a good agent can save you money in the short term, as well.

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Carolann Newton

I was a domestic paralegal for 8 years prior to Real Estate. Since I have been in Real Estate I have grown to love this business, even though it does have it's challenges; it is very exciting. There i....

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