{"id":18208,"date":"2020-12-14T12:19:05","date_gmt":"2020-12-14T12:19:05","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=18208"},"modified":"2020-12-14T12:19:05","modified_gmt":"2020-12-14T12:19:05","slug":"appraisals-commonly-cause-transaction-delays","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/appraisals-commonly-cause-transaction-delays\/","title":{"rendered":"Appraisals Commonly Cause Transaction Delays"},"content":{"rendered":"

Appraisals Commonly Cause Transaction Delays<\/h1>\n
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The appraisal can be a stressful process and may threaten to derail transactions. Twenty-one percent of REALTORS\u00ae say \u201cappraisal issues\u201d delayed their sales contracts in October, according to the most recent REALTORS\u00ae Confidence Index<\/a>. Appraisal issues led to 13% of contracts being terminated. The appraiser evaluates the home\u2019s lot size, condition (both inside and out), foundation, neighborhood, and any other amenities that add or decrease value.<\/p>\n

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\"Appraisal<\/div>\n<\/div>\n<\/div>\n

Source: REALTOR\u00ae Confidence Index<\/p>

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Real estate professionals should prepare their sellers for the appraiser\u2019s visit. Advise your clients to do a deep cleaning inside and outside the home, touch up paint, fix any minor maintenance issues, and have relevant paperwork\u2014such as details about the home and comps\u2014ready to hand over to the appraiser.<\/p>\n

Appraisals can come in below a property\u2019s sale price for several reasons. For example, buyers in competitive markets may have driven up a home’s sale price in a bidding war, or an appraiser may find a property defect. Perhaps an addition to the house didn\u2019t have a construction permit, which the appraiser would label as \u201ccost to cure,\u201d according to an article from HomeLight<\/a>.<\/p>\n

If an appraisal comes in low, the seller likely will have to negotiate with the buyer over the price again. Homeowners can challenge a low appraisal, but success is likely limited, Bill Gassett, a real estate pro with RE\/MAX Executive Realty in Hopkinton, Mass., writes for RISMedia. Homeowners will have to prove a mistake was made during the appraisal, such as incorrectly recorded square footage. The seller could request another appraisal, but that isn\u2019t a guarantee of a higher price.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Source:<\/div>\n
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\u201cWhat Appraisers Look for During a Real Estate Appraisal<\/a>,\u201d RISMedia\u2019s HouseCall (Dec. 8, 2020) and \u201cHere\u2019s What to Expect From a Home Appraisal So You Don\u2019t Blow It<\/a>,\u201d HomeLight (July 23, 2020)<\/div>\n
\u00a9National Association of REALTORS\u00ae
\nReprinted with permission<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Appraisals Commonly Cause Transaction Delays The appraisal can be a stressful process and may threaten to derail transactions. Twenty-one percent of REALTORS\u00ae say \u201cappraisal issues\u201d delayed their sales contracts in October, according to the most recent REALTORS\u00ae Confidence Index. Appraisal issues led to 13% of contracts being terminated. The appraiser evaluates the home\u2019s lot size, … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-18208","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nAppraisals Commonly Cause Transaction Delays - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/www.anthonydidonato.net\/wordpress\/appraisals-commonly-cause-transaction-delays\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/appraisals-commonly-cause-transaction-delays\\\/#article\",\"isPartOf\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/appraisals-commonly-cause-transaction-delays\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Appraisals Commonly Cause Transaction Delays\",\"datePublished\":\"2020-12-14T12:19:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/appraisals-commonly-cause-transaction-delays\\\/\"},\"wordCount\":322,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/appraisals-commonly-cause-transaction-delays\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/magazine.realtor\\\/sites\\\/default\\\/files\\\/styles\\\/asset_image_full_content\\\/public\\\/assets\\\/images\\\/12.9.2020_appraisals.png?itok=P-zy4ecs\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/appraisals-commonly-cause-transaction-delays\\\/\",\"url\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/appraisals-commonly-cause-transaction-delays\\\/\",\"name\":\"Appraisals Commonly Cause Transaction Delays - 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