Birmingham Appraisal
APRIL 11, 2023
If agents can use the same techniques an appraiser uses the likelihood of there being a big discrepancy between the contract price and appraisal is reduced. 3) Use bracketing when choosing comps- The technique of using sales that are larger and smaller than the home you are pricing is referred to as bracketing.
Birmingham Appraisal
FEBRUARY 20, 2024
It’s important to understand that collaboration does not mean that both parties must work together so that the deal closes at the contract price no matter what. Agents and appraisers should be choosing comparables based on the physical attributes of the property and bracketing different features of the property when possible.
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Lamacchia Realty
JUNE 21, 2022
That’s because fewer homes are being placed under contract. Consider the Price Brackets. Along with comps and the Target Pricing Model, price brackets are a helpful tool to use when adjusting the price of your home. Real estate websites set up their property search tools with price brackets.
Town & Country Residential Appraisals
DECEMBER 16, 2019
This means that over the years we have received properties from real estate agents on properties where we had a question as to the rationale used to develop a contract price. Always a sale that is close in price to the subject contract. Sometimes they aren’t “comps” at all. A recent sale.
Appraisal Today
APRIL 14, 2023
Appraisers sought to bracket the subject using three comparable sales. We have learned how to address areas that tend to be sticking points for Fannie Mae and Freddie Mac, such as bracketing elements of comparison. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 6.29
Birmingham Appraisal
SEPTEMBER 26, 2023
Overpriced listings may not accurately reflect the broader market, making it difficult for appraisers to justify the contract price. In turn, this can result in issues with financing, as lenders may be hesitant to approve loans based on a property that may not appraise for an over-inflated contract price.
Listing Spark
MARCH 18, 2024
Buyers in that pricing bracket will look at other properties that make more sense for the price, and your home will stagnate on the active market. Electronic Signature Tools Today’s contracts often accommodate digital signatures rather than conventional wet signatures on printed documents.
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