A home appraisal is a process of verifying the value of a home. This typically happens when you apply for a mortgage so your lender doesn’t give you more than the home you are purchasing is worth. But today’s market is competitive, buyers contracts are sometimes higher than the value of the home.
This is an appraisal gap. Most sellers ask buyers to make up the difference in the gap. That means, as a buyer, you may need to be prepared to bring extra money to the table if you really want the home.
We know navigating a Real Estate market like this one can be difficult, that’s why you deserve a trusted agent, lender, and team of professionals to help get you through.
Connect with us today at Shea Preferred Realty Group
