Appraisals continue to be a potential issue with every contract. It doesn’t need to be this way.
Of course, there will always be situations where a genuine value challenges exists. But for the most part, better preparation by agents can alleviate the majority of problems.
A key component of that preparation is an understanding of what an appraiser does and how they operate. This can quash issues before they arise.
Appraisers have no interest in “killing a deal.” They get paid to complete reports. Appeals or contested reports waste everyone’s time, and no appraiser goes out looking to waste time.
Agents would do well to understand that the appraiser is not their enemy, but simply one of the many people involved in the sale. Appraisers report the market — they don’t create it.
The agent-appraiser relationship can be contentious, mainly due to a lack of understanding. Appraisers have little idea of how much time can be invested with a client, and agents have little understanding of the requirements appraisers work under.
Senior Director, Coldwell Banker New Homes Division
With over 200 condominium, townhome and loft projects successfully marketed
“Fewer properties for sale with such remarkably low interest rates make it a great time to sell but a more difficult time to buy”