Posted by: Meena Gujral | September 21, 2009

Property appraised lower in Mission San Jose, Fremont, Ca

My listing in the Mission area

My listing in the Mission area

I have had two transactions recently where I have faced appraisal issues in Mission San Jose Fremont, Ca. In one of them I was representing the seller and the property appraised $20K less than purchase price. The buyer and seller agreed to split $10K each where the seller came down $10K and the Buyer brought in an additional $10K and we successfully closed escrow. It really helps when the client is willing to take the advice of the agents and do what is necessary since no one can control the appraisal decisions.

In the second transaction I was representing the buyer and the appraisal was only $10K under the purchase price. The seller refused to budge on their price. The buyer did not have the additional cash plus he felt he did not want to pay more than appraised value. Needless to say we lost the deal and the buyer walked. The seller has not been able to get an offer and the property is still on the market.

As you can see, appraisal issues are everywhere. We need to deal with them and try to make it work out where both the sellers and buyers are satisfied at the end of the day. Putting the house on the market is not the best solution. You will face the same problem again. Plus everyone will want to know why the house came back on the market. When they hear it was because of appraisal issues, the offers will come a lot lower than your last one so you may as well work with what you have in you hand and get it closed. Hope that helps.

If you are looking to sell your home for a LOW SET FEE or how you can save thousands of dollars when buying a home or selling your home, call Meena at 510-279-9580

To see all the homes I have sold and listed in Mission San Jose and other areas of Fremont, go to :

Homes Sold by Meena in Fremont 

http://www.helpusellachievers.com

Meena Gujral, Realtor

Help-U-Sell Achievers Realty

40083 Mission Blvd, Fremont, Ca. 94539

510-279-9580

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