Miami Real Estate Seller Tips: What To Do With Less-than-stellar Appraisal Results

When selling a property, like a Miami real estate home for instance

, you have to find the right listing agent as well as an inspector and appraiser. Pricing is the key to a successful sale. Many home sellers get particularly frantic when buyers stage their own appraisal. And once the results reveal the homes value to be less than what you originally found from your own appraiser, panic can easily creep up. Before you lose control and potentially harm the deal, here are some tips to help you decide on the better action.

Face the reality

After skulking around asking yourself why the value has dropped or even blaming the buyer from thinking that your precious Miami real estate property is worth even less than the already affordable price youve set for it, snap back to reality and face the real estate music. You are not alone with your situation thats the first thing you should learn. Home values are plummeting everywhere. In places, like Miami, considered as buyers market, its hard to grasp a certain edge over the buyers. While you're not entirely without control, its rather difficult to gain the most advantageous stance in the deal.

Hard hit areas have one thing in common: foreclosures. The number of distressed homes can easily drag down the entire market. In the city, there are several foreclosures listed along your Miami real estate property. But that isnt the only problem. Appraisals are also quite inflated, and because of this, appraisers are somewhat blamed for the current foreclosure crisis. This in turn prompts appraisers to be more critical when inspecting property.

Your next move

In essence, you only have two choices: accept the price and go on with the deal or hang on to your property. The latter is obviously not the brightest choice as you are only going to risk watching your home value plummet even deeper if you wait to sell. The most important thing to remember is that you still have the control of deciding what to do your property.

Talk with your Realtor and analyze the low appraisal value of your Miami real estate property. There is still a chance that the report is flawed due to the exclusions of certain factors. If the value is acceptable, however, proceed renegotiating with your buyer and decide on the best price that will work for you both. And since you're accepting the low value of the home, see if you can change some terms that will help reduce the pain of selling lower than expected.

Mark Michael Ferrer

Miami Real Estate

by: Mark Ferrer

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