Highlands NC Real Estate, Low Appraisal

A low appraisal can be great news for buyers, not so much for sellers of Highlands NC real estate.  Price is a tricky thing when it comes to selling homes these days and technically a home’s value is truly only that which someone is willing to pay.  So, what are the ramifications of a low appraisal on a Highlands property?

A low appraisal can hurt a buyer if the seller is unwilling to come down to the new, low price of his home.  A lender is highly unlikely to loan money for more than the appraised value of a home.  A buyer therefore has the option of walking away or finding a creative way to finance the home at this higher value, which will prove difficult.

A seller will be disappointed by a low appraisal and can either accept this new price or not.  There is always an option of seeking a new appraisal from a different appraiser as well.  A Highlands NC REALTOR® can be invaluable in ensuring that you price your home appropriately to begin with.  A thorough CMA (comparative market analysis) should determine a fair market value for your home.

Click here to read “Five Areas That Can Hurt Your Appraisal” from Realty Times.

 

About the Author
BERKSHIRE HATHAWAY HOMESERVICES MEADOWS MOUNTAIN REALTY has been serving the Highlands NC and Cashiers NC areas offering exclusive mountain real estate and country club properties since 2003.

We recognize that there are many important aspects to consider in making a real estate choice. With that in mind, we listen closely to the needs and desires of each individual customer and work diligently to find the ideal mountain property or to sell your property as efficiently and effectively as possible. However, our job does not stop there.

Once you have made your real estate decisions, we are here to help you in any way that we can. It will be our pleasure to familiarize you with all aspects of the Highlands and Cashiers communities, including home, professional and personal services as well as activities, restaurants, health care and shopping. We will go the extra mile to ensure that your experience in the mountains exceeds your expectations.

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