According to the National Association of REALTORS, in April 2016 12% of failed transactions failed due to appraisal issues, and 28% of delayed closings were delayed due to appraisal issues. It is important for buyers and sellers to know the potential issues so they are not surprised.
Pricing a home can be difficult. We recommend arriving at a price range a few different ways. Sellers are already looking online and getting confused by the myriad of prices they see for their own property and CMAs they receive from other agents. In order to be different and to have sellers have confidence in your pricing, you need to have more proof than other agents. The Assessed Value Analysis is a great way to look at price a little differently and to gain that confidence.
People put all kinds of emotions into both money and property, so it's no surprise that different kinds of conflict appear during property transactions. We will be covering the conflict resolution formula and showing you a variety of examples of how it works - whether it is conflict with buyers or sellers, other agents, or other parties. We had lots of great questions during this call so listen in and enjoy!
People put all kinds of emotions into both money and property, so it's no surprise that different kinds of conflict appear during property transactions. We will be covering the conflict resolution formula and showing you a variety of examples of how it works - whether it is conflict with buyers or sellers, other agents, or other parties. We had lots of great questions during this call so listen in and enjoy!
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Although appraisals are widely used to determine the true value of a property in the event of a home sale or mortgage refinance, there are many misconceptions surrounding them. This article addresses some of these.
Buyers and sellers are both all-too-frequently inconvenienced by low appraisals. Be the expert positioned to help them through such a turn of events.
Appraisals and financial issues are notorious for causing transactions to fall apart. When a property doesn't appraise for the sale price or when financing falls through, it can be deal-killing setback. From understanding the appraisal process to working closely with lenders, you'll learn valuable techniques to manage and overcome these challenges.
Low appraisals are a hazard in any market, but the risk increases with homes experiencing double-digit price appreciation and a low appraisal can cause all kinds of headache and heartache. So what’s the solution when the subject property appraises below market? Let's develop a problem-solving strategy that can make a difference.
Transactions don't always end successfully. This infographic illustrates 4 reasons why they don't.
As home equity grows over time, homeowners may wonder about accessing it.
Practical solutions and actionable insights for transaction issues faced by agents everywhere. Gain a competitive advantage and have smoother transactions through-out the new year and beyond.
Inspections, appraisals, contingencies, oh my! There are a number of reasons real estate transactions can fall through. A signed contract is no guarantee of a closing!
Couple zoning changes triggered by comprehensive plan updates, plus middle housing initiatives introduced in Washington last year, and add onto that sellers' already inflated idea of their own property's potential and some seller expectations are being set too high.
Have you ever thought about how people used to buy property before there were modern banks, mortgage brokers, and underwriting? Mortgages have been documented in history as early as 1190 in England common law documents. In these early mortgages, the lender still held title to the property and, in the event of a default, could sell the property in order to recover the damages. Fast forward to the 1900s...