Your House Will Be Sold Twice

Set The Right Price With The Right Pro

It will be sold once to your prospective buyer and then to the bank (through the bank’s appraisal).

The Appraisal

When a contract is established on a property, an appraised value is determined by a professional real estate appraiser. The appraiser works on the lender’s behalf to determine that value by taking many factors into consideration, including the neighborhood, the value of properties of similar size and construction, and even such things as the type of fixtures on the premises and layout of the floor plan.
~ Fannie Mae

So, if an appraiser comes in with a value that is below the agreed upon sale's price between the buyer and yourself, the lending institution might not authorize the mortgage for the full amount a buyer would need to complete the transaction.

The Pro

The more homeowners are in line with appraisers, the easier it will be to refinance their mortgage and easier for those looking to buy a home. If the two are aligned, it eliminates one of the top stumbling blocks in the mortgage process.
~ Quicken Loans Chief Economist Bob Walters

In a housing market where supply is low and demand is high, home values increase rapidly. One of the major challenges in such a market is the bank appraisal. If prices are jumping, it is difficult for appraisers to find adequate comparable sales (similar houses in the neighborhood that closed recently) to defend the sale's price when performing the appraisal for the bank.

This is why having a professional real estate team behind the sale of your home is so important to help you set your home's listing price. Skyrise Real Estate Group is the Silicon Valley boutique that you need to call today!

What a recent client says,

Ray and Jennifer helped me to purchase my first house here in America. The experience was completely brand new for me. There was a lot to learn and at times seemed overwhelming. Ray and Jennifer really took their time to carefully explain the entire process to me. They are very knowledgeable, and patient. After viewing several different properties they helped me find the perfect one for me and my daughter. They really helped me achieve my dream and I couldn't be happier. I would definitely recommend them to anyone. They are a great team.