Appraisals have been a very hot topic lately. With our market still very much favoring sellers, this is especially true.
The frequency with which we’re seeing multiple offer situations, coupled with the recent trend of rising values, has been contributing to some appraisal-related issues in today’s market.
There are so many Realtors, consumers, and lenders out there who don’t consider that appraisers are still human and that appraisals are still, ultimately, just opinions. Appraisers can sometimes be ill-informed, so it’s alright to question them and their findings if you and your agent truly feel that something’s amiss.
Appraisal speed bumps are not atypical these days given current market conditions. It’s okay if an appraisal doesn’t yield the results you expected, so long as the appraiser has truly carried out their due diligence.
If you’re running into any of these kinds of issues, know that you are not alone. And if you haven’t yet encountered such problems, keep this message in mind. Being able to anticipate and prepare for such an outcome is key. The important thing to remember is that you aren’t without options. You can and should question an appraiser’s findings when necessary.
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.