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Ep213 What happens if the house doesn’t appraise when paying more than asking the price?
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Several weeks ago, we discussed on the podcast the concept of a price escalation addendum. In that episode, one of the concerns that you may have thought about when listening to that episode is what happens if the house doesn’t appraise when paying more than asking price for a home? Well, today, we are going to talk about that specific situation and how we handle that issue by the using an appraisal contingency and possibly even a gap appraisal addendum when negotiating on a home between buyers and sellers! TALKING POINTS (3-5):
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- Introduction
- What is an appraisal contingency? When is it used?
- Discuss Appraisal Contingency to Agreement of Sale.
- Discuss Gap Appraisal Addendum.
- Final thoughts
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