Wednesday, August 1, 2012

Was the Appraisal Really Necessary?

A week ago was the unexpected appraisal. I had mentioned in my last post that the appraiser was only here for about 10 minutes total - inside and out. I thought it was quite unusual. We are most certain that he knew before he even came what he would be appraising our house at (based on recent nearby comparable sales). Whatever the case, the house didn't appraise at what we were hoping it would. We tried to contest it, but, were unable to make any changes.

We were bummed, BUT, we knew we were taking a risk by listing it above what the average was for our area (we hoped to break even). We KNEW there was a chance that it wouldn't appraise for that price - so we shouldn't be too disappointed since we were "warned" :-)  The frustrating part is that we had multiple offers at our list price, and the last deal we were presented with before the appraisal was actually above list price because of the multiple offers, and the buyer really wanting the house. People were willing to pay what we asked, but, the appraisal sets the bar when it really comes down to making a deal, because it would be very unlikely for someone to pay MORE, since that would then come out of their pocket.

Hubby and I spent several hours yesterday discussing different options, scenarios, solutions, etc. I could describe them here...but...not today. What it all came down to was that we need to do what we think is best for our family at this time. The future is unknown; if we wait then it may cost us even more to sell - so why risk it any more; the time is now. We need a new adventure! We have made the best deal that we can for the situation at this time.

Our proposed closing date is August 20th, so as long as all the paperwork can be written up by that time - that will be the day. That day also happens to be our 7th wedding anniversary. :-) My hubby's weekend is Sunday-Tuesday, so closing on a Monday seemed ideal - move things out Sunday, close on the house Monday and get situated in our new temporary home, relax on Tuesday, right?!?! ;-)

This has surely been quite the experience for us! There will be more posts to come about it. Just praying that things are set and we don't have any changes and are able to close on the 20th!

Have you sold a home? What was your experience like? I'd love to hear about it...feel free to comment below...

1 comment:

  1. Thinking of you. God is doing things just the way they are supposed to be--hard to accept sometimes. Chin up. Enjoy your last few days in your house--they go too fast! :)