Here’s what sellers should do if their appraisals come in short.
What should you do when the appraisal comes in low?
Well, if you’re a home seller, you don’t have to do much since we’ll be negotiating on your behalf. Appraisers typically give agents a period to provide comparable homes to justify the value you were seeking. We’ll fill out a grid for you and submit it to your lender.
The lender then reviews it before passing it on to the appraiser, who approves or rejects the appeal. At that point, we’ll either go back into negotiations or continue the transaction because you’ll have gotten the value that you were looking for. We can also appeal directly to the appraiser and see if they’re willing to amend the appraisal prior to submission.
If you have any questions about low appraisals or selling your home in today’s market, don’t hesitate to reach out to us. We’d love to help you.
