Listen "Short Appraisals - How They Affect Home Buyers And Sellers"
Episode Synopsis
Short appraisals are more common because appraisers typically use a method of valuation called the sales comparison method. This strategy is based on using sales information from the last 6 months from comparable properties to give the subject property a fair market value. When home prices increase are moving dramatically every month instead of every year, this strategy is more susceptible to having appraisals come in low. In this podcast episode our hosts go over some strategies to protect yourself from a short appraisal & things you need to be aware of when entering a real estate transaction!
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