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Why Is Selling Your Home a Two-Step Process?
Manage episode 151921306 series 1043192
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The first time you sell your home is when the property is on the market, properly priced and marketed, a buyer submits an offer, and you accept it. That’s the first sale.
Then, unless the buyer is paying in all cash, they will be required to have an appraisal contingency. The appraisal is the second sale. The appraisal must meet or exceed the contract price in order for the financing to go through. If the appraisal does not come in at or above the contract price, I always advise my sellers to fill out an appraisal questionnaire online whenever there is doubt. The questionnaire is detailed and will cover all the figures that go into your home’s price. We will then send this over to the appraiser.
So remember, the sale of your home is not complete when you come to terms. It also has to pass the appraisal test and if it doesn’t, the deal will fall apart. If you have any questions for me, don’t hesitate to give me a call or send me an email. I look forward to hearing from you!
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