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Tuesday, April 25, 2017

The Number One Rule About Appraisals

I ran into a prospective seller recently who wanted a cash buyer more than one who would be getting a mortgage.  As a real estate agent I can understand the reason as it takes away one of the many potential roadblocks.

(Hiring an experienced real estate agent can minimize the roadblocks when selling your Florida home.)

Over the past several years, with a market experiencing rising prices, appraisal prices have lagged.  After all, an appraisal is based on sold homes - not what is for sale or even under contract.

This particular prospective seller felt he could get an above market value offer as long as there would be no appraisal.

While cash transactions do take away one of the biggest unknowns when selling it is likely an offer will still have an appraisal contingency  Think about it.  Who, whether a cash buyer or not, wants to pay more than a property will appraise for at the time of purchase.

Questions about buying a home in Viera, Florida?  Call or text me at 321-693-3850.

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