(703) 774-4667      yvonne@yholland.com

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A Few "Quick Hits" About Appraisals

  • If a Buyer needs a loan to buy the house there will likely be an appraisal of the home to determine whether the price to be paid is actually reasonable for the market given the condition of the home, its location, recent nearby sales, and other factors.

  • Appraisals are done by the lender - the bank - for the benefit of the lender and under strict professional guidelines.  That way the lender won't loan more money than the home is "really" worth.

  • Appraisals are somewhat subjective, which is why when representing a Seller Yvonne will usually take the time to help the appraiser see the hidden value in the home.  Such things as recent upgrades that may not be immediately evident.

  • An appraised value lower than the sales price usually allows the Buyer to void the contract, but most Buyers instead ask for a price reduction to the appraised value.

  • Holland Homes can help Sellers value their house to an amount that will match an appraisal.  And will advise Sellers on options if offers come in for more than the home’s likely appraised value.  (It isn't as simple as "take the money and run"!)