If an appraisal comes in low when you’re buying or selling real estate, what should you do? Let’s discuss.
Many of you likely know someone who has been faced with a low appraisal during a real estate deal, as this situation isn’t terribly uncommon. Assuming you work with an experienced Realtor, it isn’t likely that this will happen to you, but what should you do on the off-chance that it does?
There are actually a few ways this can be resolved.
First, the seller can reduce the price to match the appraisal. Second, the buyer can offer to pay the difference. Or, as is often the case, the buyer and seller can each pay for half of the difference. The deal could fall apart altogether, but this would only come to pass if the buyer and seller were unable to meet an agreement on how to handle things.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.
At Keller Williams The Trembley Group, we pride ourselves on being the experts at more than just selling real estate. We are local residents, some of us have been here for a lifetime. The rest of us will be here until the end of time. We love living, working, and playing in the diverse backyard of Coastal Carolina, and look forward to helping you live and love your dreams soon too. Please reach out to us by phone or email for personalized service and one-on-one advice.