Appraisal nightmares Appraisal nightmares For a period of time, appraisals always magically came in at the offer price. For the most part, those times are gone. Appraisals are common deal-breakers, and in many transactions, you don’t just have one – it’s common to have an appraisal review as well. How to avoid it: Make sure the lender has a qualified appraiser and, when possible, accompany the appraiser on the inspection. Explain to clients in advance that if the appraisal comes in low the purchase price may have to be renegotiated, or a higher down payment may be needed
Posted on: Wed, 21 Aug 2013 04:56:56 +0000
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