Why It Could Be Harder to Get a Fair Market Value Appraisal on a Maryland Home at the Beginning of the Year
If you are considering or trying to sell your Maryland or Pennsylvania home at the beginning of the year you might experience difficulty with an appraisal that is at value. This means one that matches the list price of your home or the offer that has been accepted on your home.
Why does this happen?
It is not uncommon for an appraisal to come in low on a home for sale in Maryland or Pennsylvania at the beginning of the year. This is because there's a shorter supply of homes that were recently sold going into a brand new year. But with the shorter supply of homes, there is a much shorter list of comps or comparable sales that a professional appraiser can use to help them assess the value of your home. It can be frustrating as a home seller to go through an appraisal process and have the appraisal come in lower than expected.
But there is good news when this happens. If you're working with an experienced realtor in Maryland or Pennsylvania this will not shock or surprise your realtor. They know the next steps to take to help remedy the situation and get your home appraised at the contract price or the list price.
How you can remedy a low appraisal on your Maryland or Pennsylvania home at the beginning of the year
Use the facts and data about your home
With the help of your realtor, you can communicate with the appraiser who made the low assessment with a data-driven approach. A knowledgeable realtor will be able to detect any challenges that might come up in an appraisal early and help to gather supporting documents for the value of the home being at the list price or the contract offer price on the home. They can gather information about updates to the home and past appraisals to help your appraiser see the small fine details about your home they may have missed in assessing its value.
An experienced real estate agent has a network of other real estate professionals in the area that they can collaborate with and talk things over to help them gain some insight about recent sales in the area when there are few to look at from an appraiser's perspective. An agent can use their relationships with other realtors and appraisers to gather information and advice about surrounding comps and how to move forward in addressing any possible discrepancies with the professional appraisal of your home.
Experience and strategy
After gathering all of the data to help confirm that the current offer or list price of your home is at the market value a realtor will talk with an appraiser on your behalf to help them see your and your real estate professional's point of you as to the value of your home. They will be able to respectfully and effectively communicate with an appraiser to help them consider a reassessment of the property and adjust the price to get the at-value appraisal that you are seeking for a successful home sale.
Having an expert real estate pro on your side who is highly knowledgeable in real estate locally makes all the difference in the success of the sale of your Maryland or Pennsylvania home. In most cases, it is not only the stuff that you see your realtor doing on your behalf but all of the behind-the-scenes work and details that they do to help make your home sales successful the best realtors are working hard not just in negotiations but in the daily details to get your home sold.
If you are considering selling a home in Maryland or Pennsylvania or could use some help getting your home sold I am here to help. My goal is to help you sell your home in as little time as possible and for the best price possible. Contact me anytime with any Maryland or Pennsylvania real estate needs.