Coldwell Banker Realty | 📞  978-468-9576
  • Current Listings
  • Search Properties
  • Move Meter
  • About Us
  • Sold Properties
  • Posts
    • Selling
    • Buying
    • General
    • Past Property Listings
  • Reviews
  • Contact John & Cindy

John & Cindy Farrell - Coldwell Banker | Boston North Real EstateJohn & Cindy Farrell - Coldwell Banker | Boston North Real Estate

The Importance of the Buyers Appraisal to the Seller

The Importance of the Buyers Appraisal to the Seller

by Cindy Farrell / Wednesday, 20 January 2016 / Published in Frequently Asked Questions, Selling Brief - Selling Real Estate

35-44 Collins Street Danvers, MAAs a future home seller, you may not have considered the appraisal a bank will have, if the potential buyer for your home, is financing their  purchase with a mortgage.

The buyer will notify their bank once they have an agreement on your home. The bank will arrange for an appraiser to come out to your home to determine the value. Even if your buyer is qualified in every other way, if the appraisal comes in too low, their mortgage will get denied and there is a high probability that they will withdraw from the sale. The only other options the buyer may have is to either come up with more money to put down or to ask you to lower your price.

Pricing is a crucial part of presenting your home to the market. It doesn’t matter what your home goes under agreement for, if it never goes to the closing table, and the sale doesn’t take place. The initial marketing is important to achieve the optimal outcome and the success of your sales transaction. If your home comes back on the market you run the risk of selling for less than you could have received if you listed it at a proper price from the beginning. A future buyer may offer you less than they would have, if they were making the offer when it first came on the market.

Appraisals can vary to some degree but the appraisers do have to be able to support their price. If it is an appraisal for an FHA mortgage there is the possibility that it will stay in their records for a period of time. This may limit the buyer pool.

If you have a home that is likely to be purchased with financing then the buyer’s appraisal should be considered when you determine the listing price. You can ask whatever price you want for you home, but it doesn’t mean you will be able to sell it for that price. Over pricing can sometimes bring less than the house is actually worth. Strategic pricing plays a large part in the final outcome of a home sale.

Are you confused by the differences between an Appraisal, Assessment and a Market Analysis?

There are many details to consider when selling real estate. We can assist you early in the process. John & Cindy Farrell 978-468-9576.

Download our free copy of “Preparing Your Home To Sell”

  • Tweet
Tagged under: FAQ, Selling Real Estate

What you can read next

Wondering how your renovations will affect your home’s value?
Real Estate Documents Required by Law
Asbestos – Getting a Home Ready to Sell

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • 10 North Main Street Ipswich, MA

    This freestanding condo rebuilt in 2016 was ori...
  • Aerial from the back 101 Larch Row Wenham Massachusetts

    101 Larch Row Wenham MA

    This beautiful move-in ready Dutch colonial sit...
  • 920 Hale Street Beverly, MA

    Stunning renovated Beverly Farms Carriage house...
  • Arial of 1 Patton Ridge Hamilton Massachusetts

    1 Patton Ridge Hamilton, MA

    Sold in ay 2023. 1 Patton Ridge offers a level ...
  • 117 Cutler Road Hamilton, MA

    This property has been withdrawn from the marke...

International President's Premier
Awarded to the top 1% of Coldwell Banker Agents Worldwide


    
John & Cindy Farrell 
Coldwell Banker Realty 50 Dodge Street | Suite 105  Beverly | MA 01915 
Copyright © 2023 Boston North Real Estate LLC | Disclaimer & Terms |  DMCA | All rights reserved.
John MA# 9002284 ME# BA926299   Cindy MA# 9012747
TOP

Considering a home improvement project? Contact us for the 2023 Cost v. Value Report.

learn more