RISMedia's Real Estate Magazine

JUN 2019

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

Issue link: http://remag.rismedia.com/i/1119997

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Page 94 of 118

90 June 2019 RISMedia's REAL ESTATE {Intel} A s brokers, the primary job of bringing buyers and sellers together on a price usually seems like the bulk of the work, but it's really only half the battle. Inspections, taxes, insurance and financing are just a few of the outside forces that need to be satisfied before closing. The third party playing a critical role in the process is the appraiser. This is the uncompromising professional who op - erates and is bound by independent standards and rules. So, what happens when the appraisal comes back lower than the negotiated price? Unfortunately, nothing will happen automatically unless this scenario is previously spelled out in the contract. It's up to brokers to get back to work and recalibrate new terms for the transaction. by Andrew King When Appraisals Come Back Low, Brokers Scramble to Salvage the Deal

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