With multiple offers being the order of the day, buyers are overbidding to outgun their competitors. What happens if an appraisal comes back low? Here are a few important steps to take before writing an over-ask offer.
Source: Inman News
How to protect your buyers from appraisal catastrophes
Published in Agent, appraisal, Brokerage, cma, comparative market analysis, down payment, loan approval, loan contingencies, market value, Markets & Economy, Mortgage, Mortgage & Alternative Financing Month, multiple offers, non-contingent offers, Select, service and theme-month-202103
More from AgentMore posts in Agent »
- What real estate agents can learn from TikTok, Tylenol and Disney
- Former agent convicted of swindling woman out of her home
- The modern tech stack agents and brokerages need now: Streaming
- $1B Florida brokerage and former NFL prospect join Christie’s International Real Estate
- Here’s the essential reading on the Compass-Anywhere deal
More from appraisalMore posts in appraisal »
- How the escrow process offers a chance to show your value: Step 7
- The price isn’t right? How to talk sellers through their concerns
- More tech vendors approved to support appraisal-free mortgages
- Software vendors gear up to support appraisal-free mortgages
- Real Matters hires new chief financial officer as revenue dwindles
More from BrokerageMore posts in Brokerage »
- The modern tech stack agents and brokerages need now: Streaming
- $1B Florida brokerage and former NFL prospect join Christie’s International Real Estate
- Here’s the essential reading on the Compass-Anywhere deal
- I’ve studied real estate marketing for 31 years. Here are 7 essentials for effective marketing campaigns
- Enduring elegance: Leadership lessons from Giorgio Armani
More from cmaMore posts in cma »
- CMAs fall flat — this Spotify-inspired lead gen idea wins listings
- 10 ways for new agents to grab market share this spring
- The AI shortcut: 9 ways ChatGPT can simplify your listing process
- Land id rolls out Land id Pro with real estate professionals in mind
- 5 strategies for unleashing your negotiation power in real estate
More from comparative market analysisMore posts in comparative market analysis »
More from down paymentMore posts in down payment »
More from loan approvalMore posts in loan approval »
More from market valueMore posts in market value »
- California governor warns off ‘predatory’ investors amid wildfires
- Price, cost and value: You (and your clients) should be looking at all 3
- How an appraisal gap guarantee can help you land a house
- Q4 reveals strong growth for iBuyers, Power Buyers: zavvie
- Inman Review: Plunk helps homeowners evaluate renovation projects
More from Markets & EconomyMore posts in Markets & Economy »
More from MortgageMore posts in Mortgage »
More from Mortgage & Alternative Financing MonthMore posts in Mortgage & Alternative Financing Month »
- Shrinking economy bolsters the case for a June Fed rate cut
- UWM expands its Rocket rivalry into mortgage loan servicing
- Mortgage rates ease as economic data flashes recession warning
- Regulators expected to remove lid on Wells Fargo’s growth soon
- $18.5M in fines imposed on former Wells Fargo execs prove elusive
More from multiple offersMore posts in multiple offers »
- Broker Spotlight: Kevin Leatherman, Leatherman Homes
- Can a $1 price tag get your lagging listing off the books? The Download
- The leadership playbook: Stay ahead in a fast-moving market
- Stop calling this a buyer’s market. We’re not there yet
- Caution! 3 ways your buyer’s love letter could violate Fair Housing
More from non-contingent offersMore posts in non-contingent offers »
More from SelectMore posts in Select »
- What real estate agents can learn from TikTok, Tylenol and Disney
- Democrats seek transparency into Fannie, Freddie ‘reprivatization’
- Former agent convicted of swindling woman out of her home
- Is fall the new spring? Market winds may be shifting, NAR says
- I’ve studied real estate marketing for 31 years. Here are 7 essentials for effective marketing campaigns
More from serviceMore posts in service »
- What real estate agents can learn from TikTok, Tylenol and Disney
- Here’s the essential reading on the Compass-Anywhere deal
- I’ve studied real estate marketing for 31 years. Here are 7 essentials for effective marketing campaigns
- How the escrow process offers a chance to show your value: Step 7
- Enduring elegance: Leadership lessons from Giorgio Armani
More from theme-month-202103More posts in theme-month-202103 »
Be First to Comment