Did the appraisal come back too low? This occasionally happens during a real estate transaction and when it does, there are a few things that can be done. The seller can try and provide recent similar comparable sales to try and support the price of the home in hopes that the appraiser can make adjustments in the price. If that doesn't work then the buyer and seller have to negotiate a solution. Sometimes a buyer will have to pay above the appraised value, sometimes the seller has to reduce the price, and most often both parties have to bend to meet in the middle. It is always best to list a home within the range of recent sales so you can avoid having to deal with a low appraisal situation. If a buyer has a loan, an appraisal is almost always required. The bank does not want to lend more money than what a property is worth, which is why a low appraisal situation falls into the hands of the buyer and seller to deal with. When it comes to real estate in Boulder City, Henderson, and Las Vegas, Pinyon Properties Real Estate is your BEST choice!
