Don't Let a Bad Appraisal Cost You Thousands and Kill Your Sale!
Friday, October 25, 2019 at 5:23AM
[My Home Sellers Team] in 1.5%, 1.5% Listing Fee. Less fees, Appraisal, Bad Appraisal, Discovery at Villa De Paz, Home Seller, Just Sold, Just Sold, Low Appraisal, Phoenix for sale, Real Estate Success

You’re a home seller and your appraisal for the buyer(s) purchase just came in lower than the agreed upon price.  What next?  First, let's hope you have an experienced agent who can not only review the appraisal but confirm the data used in the valuation to determine if it’s correct, that's step #1.

Chances are the appraiser completed the appraisal in a professional manner and the value is correct, but when mistakes happen it could cost you thousands and the loss of your home sale.  Having an appraisal valuation revised does and can happen, but you better have the correct data/comps and clearly show the mistakes made by the appraiser.  This is exactly what happened to our home seller and below is how we corrected the error.

Appraisal for our client’s sale came in $6,000 below the purchase price.  Over the next two days we went through each comparable used and verified the information against both the MLS data and County Assessor's data.  Errors were found in the measurement of gross living area for the subject property, inaccurate MLS data of comparables used and incorrect county assessor data.  We submitted a report, that clearly showed and documented the incorrect information used to establish our client’s property value and successfully received a revised valuation that matched our purchase price, saving our client $6,000 and keeping the purchase together for the buyer.  

We firmly stand behind our clients and through experience and local market knowledge are confident in getting our seller(s) the highest value possible for their homes & investment properties.  Selecting the right agent to work with can make a huge difference in both the value received and the success of your property sale.

Thinking of interviewing agents to help with your property sale?  Check out our reviews below and our 1.5% listing program that gives you more value and less fees than any other program in the Phoenix market...Or you could just go with Aunt Claire who chain smokes Virginia slims and only sold 3 homes in her 5 year real estate career. 


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