Highlands NC Real Estate and Appraisals
Meadows Mountain Realty, Highlands NC real estate
Highlands NC real estate transactions and appraisals often go hand in hand. As a result, it is helpful to understand the process and how it can affect a purchase contract. An appraisal will reveal what a property is worth. This is especially important for lenders. An experienced Highlands NC REALTOR will be able to educate you on the process and what it means to you.
What is an appraisal?
An appraisal will offer the value of a Highlands NC property. This value is arrived at from an analysis of the market, similar to a comparative market analysis (CMA). Ultimately, the appraisal is important because it is relied on by lenders to ensure that a loan is based on an accurate value. However, an appraisal is not always accurate. Sometimes nuances can be overlooked, especially if the appraisal is being conducted by someone unfamiliar with the area.
What if you disagree with the appraisal?
If a buyer or seller disagrees with the appraised value of a property he can request a new appraisal. Often this request will be at the expense of the person requesting it. When a home comes in either under the value it will often lead to further negotiation. A buyer will typically either come to the table with extra cash, walk away from the contract, or negotiate a lower price. No lender wants to lose money and will not approve a loan for more than a home is worth.
Learn more about Highlands NC real estate
Contact our team at Berkshire Hathaway HomeServices Meadows Mountain Realty today to learn more about selling Highlands NC homes. We welcome the opportunity to update you on market conditions while sharing a complimentary listing presentation at the same time. Let our knowledge and experience serve as your guide to the selling process. We welcome the opportunity to help you with selling Highlands NC real estate.
Click here to read “Hey, Buyers: These Home Appraisal Tips Are for You” from House Logic.