Selling Highlands NC Real Estate, Appraisal
Selling Highlands NC real estate more often than not involves an appraisal. Often the appraisal is right on target. However, it is also possible for an appraisal to come in higher or lower than the contracted price. While a seller can list a home at whatever price he sees fit, the appraisal can throw off a home sale. An experienced Highlands NC REALTOR will be a great asset when it comes to pricing a home for sale.
What is an appraisal?
The average buyer is acquiring a loan to purchase a Highlands NC property. Once a property is under contract the lender will hire an appraiser to evaluate the price of the property. This appraisal will either match the agreed-upon price or come in lower or higher than said price. An appraisal that comes in higher than the agreed-upon price is a bonus for a buyer. However, when the appraisal comes in lower there can be an issue. A lender will not support a loan when a home is under contract for more than it is worth. This will leave a buyer with two main options: walk away from the deal or come to the table with more money out of pocket. However, an appraisal can also be disputed and a lender can have a second appraisal completed as well.
Can sellers avoid appraisal issues?
Ultimately, pricing a Highlands NC home for sale is an important step in the selling process. Pricing a home involves a thorough examination of the market, the neighborhood, and the condition of a home. A REALTOR will conduct a comparative market analysis (CMA) to arrive at a fair market value for a home. While a seller does not need to accept this suggested price, it is important to acknowledge that this price is arrived at from a thorough analysis as well as from experience. When a home is priced at a fair market value it should not have appraisal issues.
Learn more about selling 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 selling Highlands NC real estate.