Episode 19 - "The Appraisal Process": What sellers need to know

Once you've accepted an offer from a buyer who requires a mortgage, the home appraisal becomes one of the most significant hurdles before closing. An appraisal is a professional third-party opinion of your home's value, and a low appraisal can jeopardize the entire deal. This episode demystifies the appraisal process from the seller's perspective, explaining what it is, how it works, and what you can do to prepare.

We will explain how an appraiser is chosen and what factors they consider when determining a home's value, focusing on recent comparable sales, property condition, and market trends. You'll learn the crucial difference between an appraisal and a home inspection. Our expert guest, a certified appraiser, shares what sellers can do to facilitate a smooth appraisal process, such as providing a list of recent upgrades and improvements. We will also outline your strategic options if the appraisal comes in lower than the agreed-upon contract price.

After listening, you will have a clear understanding of the appraiser's role and how to put your home's best foot forward. You'll be prepared for this critical step in the transaction and know how to navigate the potential challenges of a low appraisal. This knowledge will help you keep your deal on track and moving toward a successful closing.