On the other side of the appraisal

[Danny Day]

I listed a home for a client about 90 days ago, and we got a contract a week or two ago. When I listed, I knew we were a tad bit over priced - about $4,000 max.

The offer came in about $9,900 under our list price - so in reality, about $5,900 less than what it should have sold for.

We took it, and had some drama during the negotiation phase. The buyers agent was upset with how high the house was listed, and how tough we were on negotiations. She didn't get any repairs :wink: , not that it needed much at all.

Needless to say, she hinted that the appraisal value would come in significantly lower than our contract amount, givnig her the ability to re-negotiate the price of the house due to the 3rd party financing addendum.

I've read some post on here on how to charm appraisers, and all I can say is the advice I got on here worked TEN FOLD.

Our appraisal came in at exactly contract price. The appraiser thanked me for making it smooth for him to gain access, etc.

The buyers agent was not happy that it came in "high".

I thought other agents / sellers could benefit from what we did:

- Set the appointment with the seller for the appraisal
- Confirmed the appointment the day of with seller / appraiser
- Had seller lay out executed contract, sellers disclosure, and addendums in kitchen.
- Had seller lay out a list of repairs completed, along with invoices for all repairs.
- Contacted appraiser after to ensure everything went smooth.

Ready to close now
:mrgreen:

Danny