Home appraisals are an important step in nearly two-thirds of every residential real estate transaction, yet when you think about buying or selling a Fort Lauderdale home, it’s not likely to be your major focus. For most people, the appraisal process seems like a mere formality. After all, haven’t the seller and buyer already agreed to the deal? What’s left to do, other than dot the I’s and cross the T’s?
Cash buyers can choose to skip the appraisal altogether. But for the rest of us where a loan is involved, so too is the lender’s appraisal – or appraisals. Unfortunately, many real estate agents choose not to be a part of this important step, which can derail a deal. The entire real estate transaction hinges upon the success of an appraisal because the lender needs assurance that the property has at least the agreed upon value. If the home price doesn’t meet the appraiser’s assessment of the home, the bank will not fund the loan.
At Luxury Living Fort Lauderdale, we take a proactive approach to the appraisal process. Armed with an appropriate package of comparable sales that support the agreed-upon price, we meet the appraiser at the property. Sometimes the appraiser may have uncovered the same properties in our package, but that is not always the case. Also, if our seller has completed upgrades or improvements, we provide the appraiser with proof to help justify a higher price.
As successful Fort Lauderdale Realtors, we’ve found that taking an active role during the appraisal process is an important way to protect our client’s interests. It’s a commitment we make to help insure that each and every closing finishes as planned. If this season finds you looking for a Fort Lauderdale Realtor who will be by your side from start to finish — contact us!
The Luxury Living Fort Lauderdale group at Coldwell Banker Residential Real Estate is the premier choice for buyers, sellers and renters of wonderful homes in the Fort Lauderdale area. We’re so good at what we do that 100% of clients rated our service as “EXCELLENT”!