- Joined
- May 2, 2002
- Professional Status
- Certified General Appraiser
- State
- Arkansas
If that is the case, they aren't appraising correctly. The market value is the most probable sale price it would sell for on the effective date, not prior to that.Not only is Cash quick & clean....
It's what establishes the new highs...The new price points that appraisers need, to show that the market is indeed inflating.
Without cash buyers, appraisers would keep marketplace stable, since looking backward to prior sales will never show you today's market.
A good RE agent, as Denis said, will advise to take a solid, well qualified good offer, rather than a shaky finance highest offer.
If 10 people put offers on a house, and highest offer is 300k, next highest was 295k, then 9 people think it's not worth 300k, only one high risk buyer offers the 300k...Something to consider.
If that is the case, they aren't appraising correctly. The market value is the most probable sale price it would sell for on the effective date, not prior to that.