One of the latest strategies in the negotiation game of getting an offer accepted is the appraisal contingency. It’s easy to offer higher than asking price with the idea that if the appraisal comes in lower than the contract price, the buyer can just walk away. In today’s seller’s market, buyers who have enough money in the bank can afford to offer anywhere from 10 to 50 thousand dollars above asking price on homes and waive the appraisal contingency. They are telling the seller they won’t walk away from the deal. I think even stating a provision that buyer shall offer up to “x” amount above appraised value ($5000, for example) if such value is below the contract price is already a plus for the buyer and may edge out other competing buyers. Sellers should also pay attention to these details that can make a world of difference between buyers’ offers.
To learn more whether you’re looking to buy or thinking about selling, shoot me an email at email@example.com or call/text me at 720-253-8513.