A recent report from Corporate Settlement Solutions reveals a concerning trend in the housing market, as the gap between home appraisals and sale prices continues to widen. This discrepancy is causing challenges for both buyers and sellers, as it can lead to issues with financing and negotiations during the home buying process.
Key points from the report include:
– The increasing divide between appraised values and selling prices is impacting the overall housing market.
– Buyers may struggle to secure financing for a home if the appraised value falls short of the agreed-upon sale price.
– Sellers may face difficulties in negotiations if the appraised value comes in lower than expected, potentially leading to price reductions or even canceled deals.
It is crucial for industry professionals to closely monitor this trend and work towards solutions to bridge the gap between appraisals and sale prices in order to maintain a healthy and sustainable housing market.
You can read this full article at: https://www.housingwire.com/articles/only-40-of-homes-sold-include-an-accurate-appraisal/(subscription required)
Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.
