What can you do if a home doesn’t appraise in this crazy-hot market?
In the Madison market, inventory is incredibly low. As a result, competition for homes is fierce, and prices continue to rise. When you want to buy a home, the bank or your lender order an appraisal to make sure the house’s true value supports the amount you’re paying for it. This usually isn’t an issue; however, when prices are rising so quickly, homes often don’t reach the agreed-upon price during appraisal. What can you do in this situation to make sure the deal doesn’t fall through?
In our current market, many buyers deal with this situation by skipping the appraisal altogether. They do this by either offering all cash or waiving their appraisal…
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