Ep. 25 –Sellers: Appraisals
Summary
In this conversation, Clint C. Galliano and Ben Harang discuss the intricacies of appraisals from a seller's perspective in real estate transactions. They cover the importance of appraisals, the implications of low appraisals, and the necessity of timely inspections. The discussion emphasizes the role of appraisals in financing and how they affect both buyers and sellers during the home selling process.
Takeaways
· The buyer's financing is contingent on an appraisal in most cases.
· Cash deals should not be subject to appraisals.
· FHA appraisals stay with the property for six months.
· Timely appraisals and inspections can prevent delays.
· The lender requires appraisals to ensure collateral value.
· Adjusting the sales price may be necessary after a low appraisal.
· Time kills deals; delays can jeopardize closings.
· Sellers have options when appraisals come in low.
· The appraisal process protects both buyers and sellers.
· Understanding market conditions is crucial for appraisals.
Sound Bites
"Time kills deals."
"The appraisal is required by the lender."
"You can't run away from it."
Chapters
00:00 Understanding Appraisals from a Seller's Perspective
12:30 The Importance of Timely Appraisals
18:40 Navigating Low Appraisals and Seller Options
25:10 Disclaimer
Hosts
Ben Harang, REALTOR® La.
License #: 36589
Keller Williams Realty Bayou Partners
Mobile: 985.859.2500
Office: 985.262.4400
benharang.com
Clint C. Galliano, REALTOR®
La. License #: 995704723
Keller Williams Realty Bayou Partners
Mobile: 985.647.4479
Office: 985.262.4400
clintcgallianorealtor.com
Produced by Clint Galliano
Music by Wiggins Studios
Keywords
appraisals, real estate, seller perspective, financing, FHA loans, inspections, market value, home selling, buyer-seller negotiations, property value
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