Santa Monica Real Estate News: help your appraiser do the best job

Your home is on the market. You found buyers, a nice young couple just starting out, and they’re sold on the home. But wait — there’s one more person you have to sell: the appraiser.

You can no longer try to influence the professional who’s responsible for placing a value on the house — a value that the lender must feel comfortable with if, for some reason, your buyers don’t pay back their loan and the bank has to foreclose.

No, the days of MAI — which stands for Member of the Appraisal Institute but was euphemistically known in the trade as “Made as Instructed” — are long gone. But there is still plenty you can do to improve the chance that you will obtain the value you are looking for.

Leave a Comment