What if My House Doesn't Appraise For the Purchase Price | What Happens if Appraisal Comes in Low

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[@mariahpadilla8187]

In the process of buying our home and I have to say these have been some of the most informative videos I’ve found on KZbin! Thanks for providing great content!

[@ShaheedahHill]

Thank you fur the feedback and thanks for watching!

[@williesimpson1793]

Bitcoin has been around for over a decade now, while a lot of people where skeptical at first, it is no longer a secret that it has turned a whole lot of people into millionaires. Bitcoin is currently growing incredibly strong from a technical and fundamental perspective. One indicator of the digital asset’s fundamental strength is the massive exchange outflows seen throughout the past several months. I was introduced to bitcoin trading 4 months ago, As a married woman with kids and a career I thought I was too busy for that. but I decided to give it a try. so I started with $10,000. I made very little profit over the month as my funds grew from $10,000 to $11,540. but 2 months ago I met a very professional bitcoin expert called Mr Carlos Andrew, Ccarlos coached me from a novice-level into a pro, he taught me everything I needed to know, when I first started trading with carlos strategy, I didn't know it will turn out this big for me, in fact my first month of trading with his strategy, i was able to make 7btc with 2btc in 3weeks with the same strategy, He can be reached via Instagram @carlos_andrewfx or facebook facebook.com/Carlos.andrewfx [phone] for inquiries for insights into all crypto related issues.

[@madalinebell1525]

Agreed

[@jasminflowerrss]

l

[@unknownwolf4046]

@@madalinebell1525 my grandparents buying a home the house inspection is done now we are waiting on closing

[@tomaitoe]

I've watched so many first time home buyer videos and I have not heard this information anywhere. Thank you!!

[@ShaheedahHill]

Thanks for watching...trying to make sure everyone has the info they need.

[@UnexpressiveArtist]

My husband and I are buying a our first home this year. I absolutely love your videos because you explain everything so clearly. You’re definitely helping people buy with the confidence.

[@ShaheedahHill]

Thanks so much!

[@kelley4330]

I used to work as a mortgage banker and I’m buying my first home and it came in low. You covered this beautifully! Thank you

[@ShaheedahHill]

Thank you, I hope everything works out in your favor.

[@cardinal8268]

Appraisers are paid a fee, say $400, but the lender charges $550 for the appraisal on the truth in lending statement. The $150 extra is part money grab and part appraisal management fee for the company who ordered the appraisal on behalf of the lender. The appraisal is owned by the lender, not the buyer (even though the buyer paid for it. ) The lender provides a copy to the borrower, by law, at least 24 hrs before closing; usually earlier in a purchase loan.

[@ShaheedahHill]

@cardinal8268 Thank you for watching

[@eastcoastninja6516]

Hi I'm a buyer. the house I wanted it didn't appraise. The Seller wont negotiate because they believe their house is more than the appraise. They asking us to look for another appraiser from a different lender. My question is Can I look for another appraiser from a different lender?

[@ShaheedahHill]

For FHA loans the appraisal will stay with the house for 120 days, so you cannot get a new appraisal even if you switch lenders. If you do conventional you can switch lenders to get a new appraisal. What the sellers should do is dispute the appraisal and see if they are able to get it adjusted. They present their comps to the appraiser and even move to the supervisor level. But they are under no obligation to sell it for the appraised price unless there is something in the contract that says otherwise. @eastcoastninja6516 Thank you for watching

[@marissad.1634]

I am SO grateful that I found your videos! My husband and I are finally house hunting for our first home. Rates and home prices here in NJ are crazy...it's so overwhelming. Knowing that the appraisal is such a huge factor in how much we should offer for a home has me so anxious. You've eased some of my worries, knowing that we can put appraisal contingencies into the terms of our contract. Thank you for sharing your wealth of knowledge! My husband and I are back to back in our office together, each watching some of your videos. haha! You are amazing!

[@ShaheedahHill]

Thanks for watching!

[@clearwaters1172]

This is college right here! Home Buying 101. Taking notes 📝

[@ShaheedahHill]

So wonderful!

[@lobacotable]

Shaheedah! We're a military family with no house buying experience. I've been watching your videos and they're so helpful. You're great and you've helped me so much. Thank you!

[@ShaheedahHill]

Thank you!

[@magnelpitt398]

Buying a new construction townhouse and I am at the appraisal stage Thanks to you Ms. Hill for calming my fears, Very important information.

[@ShaheedahHill]

Congratulations on your new home! Thanks for watching.

[@enemroy]

In my opinion the VA home loan is the best hands down. This is because unlike conventional and FHA loans the VA loan has the tidewater for the appraisal which automatically activates if the appraiser says the value is under the sale price. The appraiser will also have to notify all the agents and lender and give typically 48 hours to submit supporting comps. And if this does not work you can then put in for a reconsideration of value to the VA and possibly even get another appraisal done. But the other loans such as FHA and conventional have none of this.

[@ab.6031]

Thanks for the info. I’m going with a VA Loan

[@lovetalx]

As a certified appraiser of 16 years I have to say you are spot on. You got everything right and I really appreciate that! Thank you!

[@BestofMadagascarLLCSterling]

Tony G. I’m looking for a trainer in Richmond area. Do you have any connections please I can contact? I’m thinking to start class January 2021. Thank you

[@lovetalx]

@@BestofMadagascarLLCSterling unfortunately I do not. I am in Fredericksburg and you'll find out after you get licensed and eventually go out on your own that we don't talk to each other that often. Best of luck!

[@scottasbj]

Um, if you are an Appraiser, and you think that she is correct on everything, then I would wonder what one of your reports would look like. Where do you get this idea that the borrower owns the Appraisal?

[@lovetalx]

@@scottasbj The lender originally owns the appraisal report as they are the client who ordered the appraisal. The borrower pays the lender for the report and is provided a copy. I've been doing this for 16 years and my reports look fantastic. Thanks!

[@ShaheedahHill]

Thank you so much for the validation! I appreciate you watching!

[@mvm3016]

Unfortunately buying in the New York metropolitan area in 2021 if you don’t wave contingency upon appraisal your offer won’t even be considered. Prices are inflated and buyers are at risk, but if you want to get into a home you really have to do your homework and understand your appraisal may be lower. Seems to be part of the cost of getting in right now.

[@Operation3Sixty]

I am a first time home buyer using a VA loan. I am under contract and ive been very nervous about the appraisal coming in low. This video eased my worries

[@ShaheedahHill]

I am so happy you found this video, thank you for your service and congratulations on your new home!!!

[@catespinal]

I have been so worried about the appraisal as we put in an over asking offer.

[@ShaheedahHill]

Best of luck!

[@bronsonschnitzel7493]

How did it work out for you?

[@catespinal]

@@bronsonschnitzel7493 appraisal came up just 5k less than the price we offered 🙌🏾

[@tonyyero7231]

Have sold and purchased 8 times each...spot on! Kudos!

[@ShaheedahHill]

Thank you, I appreciate the feedback!

[@ElleBrOw]

🗣🎤 Sitting down, tuned in & taking notes 🧾✍🏽

[@ShaheedahHill]

Hey you are #1 again! Thank you for watching🙂

[@ElleBrOw]

@@ShaheedahHill Hi could you please educate (us) your audience on difference between "pending" & "contingent"? With the current surge in homebuying almost every search list the property as one or the other. Thank you.

[@ShaheedahHill]

@@ElleBrOw Pending means it is under contract with a buyer. Contingent usually means it is under contract but the sale is contingent on the buyer selling their home first.

[@williesimpson1793]

Bitcoin has been around for over a decade now, while a lot of people where skeptical at first, it is no longer a secret that it has turned a whole lot of people into millionaires. Bitcoin is currently growing incredibly strong from a technical and fundamental perspective. One indicator of the digital asset’s fundamental strength is the massive exchange outflows seen throughout the past several months. I was introduced to bitcoin trading 4 months ago, As a married woman with kids and a career I thought I was too busy for that. but I decided to give it a try. so I started with $10,000. I made very little profit over the month as my funds grew from $10,000 to $11,540. but 2 months ago I met a very professional bitcoin expert called Mr Carlos Andrew, Ccarlos coached me from a novice-level into a pro, he taught me everything I needed to know, when I first started trading with carlos strategy, I didn't know it will turn out this big for me, in fact my first month of trading with his strategy, i was able to make 7btc with 2btc in 3weeks with the same strategy, He can be reached via Instagram @carlos_andrewfx or facebook facebook.com/Carlos.andrewfx [phone] for inquiries for insights into all crypto related issues.

[@ElleBrOw]

@@williesimpson1793 LOL

[@BriannaSimonexo]

currently dealing with this on a new construction home that has $20k worth of upgrades and appraised for $6k less than the selling price. It's all a waiting game now and i'm stressed! thank you for this helpful video.

[@ShaheedahHill]

I hope you were able to get this taken care of. I don't have this happen often with new construction but the one time it did, the builder just lowered the price. Just curious did you us the builders preferred lender?

[@BriannaSimonexo]

@@ShaheedahHill thank you! I will definitely keep you updated. I did use their preferred lender. I was told that if they lower the price, they’ll take away my incentives (1 year free HOA and $2500 towards closing) :/

[@ShaheedahHill]

@@BriannaSimonexo Have your agent keep pushing, if you are doing FHA you can usually terminate without penalty and they want you in the house and the appraisal will stay with the home for several months. Even if your agent needs to contact corporate.

[@Yxxx6]

Very well put! I wish this info was taught in your basic school classes for highschool. The amount you need to learn in the real world is a lot...

[@ShaheedahHill]

Thank you! I used to be a high school business teacher...I taught it but you had to be in my class😁

[@meicealways5842]

It’s like your videos always reflect my current situations!!! I love it Thanks for the insight

[@ianceasarbonachita]

Lots of solid info packed in this video. Thanks!

[@ShaheedahHill]

@ianceasarbonachita Thank you for watching

[@EastCoastReefer]

Your videos are most detailed and informative. You answered all of my questions and concerns. Thank you for the new construction bonus part. It was exactly what I wanted to know. 🙏

[@ShaheedahHill]

Thanks so much for watching

[@rikadew]

Closed on my house late September and these vids were a Godsend. Thank you ❤️

[@ShaheedahHill]

Congratulations and thanks for coming back and giving an update. I appreciate you watching. How did the appraisal go?

[@rikadew]

@@ShaheedahHill it appraised at value luckily. So closing went smoothly.

[@ShaheedahHill]

@@rikadew great!

[@daju01]

This video even though it's a year old was spot on with with your scenario. In one of your most recent videos I chimed in on how the VA appraisal came in lower than the contract price making this a tidewater case . I shared the report with the seller he felt the house was worth the contract price, bottom line we met half way on the appraised price. We both signed an addendum with the renegotiated price.today we are happy new home owner. Ms.Shaheedah Hill !! Your videos are SPOT ON !!!! Y'ALL BETTER LISTEN !!.

[@ShaheedahHill]

Thank you and congratulations!

[@daju01]

@@ShaheedahHill thank you.

[@victorcordero1458]

Congratulations

[@daju01]

@@victorcordero1458 thank you

[@eheheh3263]

My appraisal came $4,000 lower which I was not happy about but I guess it’s not that bad... and for my first purchase it’s not that bad I guess and taking into consideration how hard it is to snatch a property right now...

[@losheroes6076]

I hope mine comes in that low when i find a house lok

[@autumnenlow7769]

What sense does it make to appraise the home towards the end of the purchase? Wouldn't it make more sense to appraise it in the beginning to make sure everyone is on the same page monetary wise without wasting money on inspection, moving costs, time etc

[@ShaheedahHill]

The seller can sell their house for whatever someone is willing to pay. Appraisals come in when a buyer wants to finance their purchase with a mortgage loan. That's why appraisals are typically not done on the front end.

[@autumnenlow7769]

@@ShaheedahHill thank you for the reply!

[@iSprayRice]

Okay I a seller, only been in the house for a year and more, I had many things done and upgraded, if the appraisal come lower than my regular sell I put out what should I do? Because the sell price is the same as I bought a year ago and I didn’t raise the price or anything. Matter in fact I fix a lot of stuff and upgrade lots of stuff in the house, new door, refinishing floors, new pipe because we thought we going live there for a while and also new baseboard and trim.

[@ShaheedahHill]

The most important thing to an appraiser are usually the most recent sales of similar homes in your area, not upgrades. One year is not much time for values to go up and since interest rates are elevated you may find that sellers in your area have reduced prices to sell. You can dispute the appraisal with your own comparables and your list of upgrades and see it that will help. @iSprayRice Thank you for watching

[@iSprayRice]

@@ShaheedahHillthanks!

[@Chrissy4281]

Two questions regarding new construction. One-What if you pay for the appraisal up front and an appraiser goes out but the home isn’t ready to be appraised (it’s in the plumbing and electrical installation and inspection phase; no drywall nor insulation has been completed). Do you have to pay that again or does the appraiser just come back? Second-Can you confidently expect your home to appraise if the builder has raised the home prices since you’ve been under contract? For ex: you went under contract on a home for $500k in Dec last year and your same model home’s base price is listed for more in 2023. Is that assurance that your home will appraise for at least the $500k? For context this is a home that is currently in the second phase of the builder’s new construction homes (there will be more phases coming) and this is using an outside lender, not the builder’s. Thanks in advance for any advice you can provide. This was such an informative video!

[@ShaheedahHill]

Hi Chrissy, Good questions #1 - for new construction the appraiser comes out 2 times, one usually half way through the building process and then come back at the end. Ask your lender the total cost, the appraisal fee is typically on your loan disclosure. I have seen a small additional fee in the past for the 2nd time out. You don't pay twice though, since there is only one report. 2. You can expect your home to usually appraise for the purchase price...it may not initially appraise for the newer sales price because those homes will close after your home so the appraiser will not likely have those values, but as those homes close the value of your home will increase and give you more equity🙂

[@Chrissy4281]

@@ShaheedahHill thank you so very much!! This helped a ton and makes complete sense!

[@prayonkreutz2398]

The closing costs (including realtor commissions) reduce when the price of the house is reduced. Those costs need to be factored in when bargaining with the seller.

[@ShaheedahHill]

@prayonkreutz2398 Thank you for watching

[@beaglebutter]

In the process of buying my first home and I’ve been so worried about the appraisal (for no reason other than me being worry wart). You mentioning the fact that the appraisal stays with the house for a certain amount of time for FHA loans definitely eased my worries! Thanks so much for your info!

[@ShaheedahHill]

Yes 120 days 🙂

[@LouieTheFrenchie]

On the same boat, my home should be getting appraised in the next week or so. I don't know why am I so worried lol 😅

[@lynnsayavongsa1295]

I just found you today .I am sooo thankful for all the knowledge and information .I now have the confidence that it is possible for me to reach my goal.Thank you, Thank you

[@ShaheedahHill]

Thanks for finding me!

[@bobos5270]

Shaheeda, I just got an appraisal today on a home I am selling, first time for sale by owner and I have many questions, your wonder video answered them all, thank you so much and God Bless you and your family and your business.

[@ShaheedahHill]

Thank you and sometimes depending on the appraiser you hired, if the buyers appraisal comes in lower than yours they may offer to help you dispute it.

[@Janet-e8z]

Great job. I’m RA too. Very informative

[@ShaheedahHill]

@user-py7hg1eb5m Thank you for watching and for the feedback!

[@taleasanders9650]

What if there is a new construction and the appraisal list things that are not in the home such as appliances and ceramic floors?

[@ShaheedahHill]

Typically appraisers on new construction will come twice, in the middle of construction and again when the home is complete. Ask your lender if that is the case, if so they are likely just listing the things that will be installed. Thanks for watching!

[@taleasanders9650]

@@ShaheedahHill Well my home is finished I went for the new home orientation and there are no ceramic floors nor a washer and dryer

[@ShaheedahHill]

@@taleasanders9650 Well that is likely an error you need to report. Ask your agent to help you. On your appraisal report you should have all the appraisers information.

[@DonC11669]

Lead abatement in paint as well.

[@lorihutchinson9147]

Thank you for this very helpful video. Our lender said Fanni Mae is waiving our appraisal , meaning we don’t need an appraisal. He made it sound like we should be excited by this. Is this a red flag? My gut is saying to get the appraisal done.

[@ShaheedahHill]

Sometimes if you are putting at least 20% down the lender does not require an appraisal, but I think you should get one, so you will have an independent value of the home, sometimes when a house does not appraise it can stop a deal so the lender is likely excited since that is one less hoop to jump through. But an appraisal in my opinion can only benefit the buyer. Do you have an appraisal contingency?

[@lorihutchinson9147]

@@ShaheedahHill ok must be because of 20% we are putting down. We have an appraisal contingency. Based on your video and discussing with others it seems if it appraises low then they can lower the price, or if they refuse we can walk away or still choose to pay the initial agreed on price. Since they built another room, based on your other appraisal video it seems it will appraise higher than the asking price so my concern is then the appraisal gap they may want us to cover and we cannot afford that.

[@Teach4391]

Thank you for the information. What if your builder is your lender?

[@ShaheedahHill]

The lender still has privacy obligations to you. However, sometimes you may waive those in your contract when you go with the preferred lender- review your contract. The builder is not your lender, they are two seperate entities, even if they are under the same umbrella.

[@tosinorogun]

Excellent delivery!

[@ShaheedahHill]

Thanks for watching!

[@RafaelSwit]

Very informative video! Thanks you for sharing your knowledge! Would it be reasonable, to expect that my agent or lender, has the information (from actual sales/ failed sales) into how many homes in the local market, end up appraised lower than the asking or contract price?

[@ShaheedahHill]

No it is not reasonable because the appraisal is owned by the buyer and not public knowledge. However, they can estimate market price by reviewing recent sales.

[@poplarbluff]

In this situation now , literally 107k under what we offered. I'm thinking is this because the appraiser is way off or the agent put it way too high?? Hoping the seller can come off the price a bit and we meet in the middle. We are waiting for an answer ! Very nerve wracking !

[@ShaheedahHill]

Best of luck, more than likely the agent listed it too high trying to take advantage of this sellers market.

[@browngal00]

When selling how can you make sure you get a fair appraisal? I've heard some stories of appraisers appraising minorities less than the true home value. Thanks for your videos.

[@ShaheedahHill]

I did a live on this and it would be helpful to watch that video. But you have to know the approximate value of your home and if it comes in a lot lower, you need to dispute that appraisal. kzbin.infoeQ30Ir_r1oM?feature=share

[@browngal00]

@@ShaheedahHill Thanks for the quick reply 👍. Going to watch it right now.

[@thefilthycasual3068]

So what if your appraisal comes in low on new construction but the reason is because of upgrades you did in the design center?

[@ShaheedahHill]

You can give the appraiser a list of your upgrades and maybe that would help. If you are doing an FHA or VA loan you are not forced to buy a home if the house does not appraise - you have an amendatory clause in your loan. If you are doing a conventional loan then you need to negotiate with the builder. Side note - do not over upgrade your home relative to surrounding properties. @thefilthycasual3068 Thank you for watching

[@thefilthycasual3068]

@ShaheedahHill Thank you! I am doing a VA loan and I didn't even think about this before we went to the design center. That stuff adds up super fast.

[@helenaanonymous3942]

Thank you Shahdeedah!

[@ShaheedahHill]

@helenaanonymous3942 Thank you for watching

[@deborahrambarose8681]

Thank you Shaheedah...you are very knowledge and I always learn from you. Can you do a video on concessions?

[@ShaheedahHill]

Thank you for watching, yes I can do that hopefully before the end of the year.

[@mistysullivan7372]

This is my first time seeing this video and it’s the best! Here’s my question please we are under contract right should close on our house this coming Friday 🎉 the couple that is buying our house is using a va loan they can’t come up with the closing so my husband and I decided to give them the 14,000 dollars contribution to help them I know I know but here’s my question on this if the appraisal comes back to low or to high for them can we negotiate it? They are getting 100% financeing I just hope it doesn’t come back and bite me in thr butt please help with some answers

[@ShaheedahHill]

***This is not legal advice, please consult with your attorney and/or agent***Congratulations on your pending home sale and thank you for helping a buyer that has served our country. Here is what you can expect: 1. Unless you have something specific to this in the contract, they do not have to share the appraisal with you and will likely choose not to do so if is appraises over the contract price. It usually leads to seller remorse, so I never advise my buyers to share it. 2. If it appraises for less than the list price their agent will likely try to negotiate with you to bring down the price to the appraised value. You do not have to do this and can renegotiate the contract at that time. VA loans have a clause that allow buyers to cancel contracts based on appraisal and still keep their earnest money, so work with your agent to figure out the best solution. If you go down on price you can also give less or no seller closing costs. 3. You can also appeal the appraisal if you think it came in too low, your agent can help you with that. Best of luck!!!

[@darongates1808]

Recently made an offer on a home listed for 290k. The offer was 310 with a 5k appraisal gap. No decision was made from the seller yet, but I hopefully good news is coming my way. GREAT VIDEOS

[@ShaheedahHill]

Best of luck, thank you!

[@darongates1808]

@@ShaheedahHill Wanted to provide an update. The offer was accepted and we close on May 27th!!!!!!!!!!!!

[@victorcordero1458]

@@darongates1808 congratulations

[@Iamcherese]

Congratulations

[@losheroes6076]

If the seller disputes the appraisal and wants another appraisal fors the seller pay for that.. and for 600$ an appraiser shouldnt miss anything. No one is rushing the appraiser

[@jazminedeblaw5442]

If I’m buying the home “as is” are the sellers required/responsible for those repairs that will clear the appraisal? Or will it fall on me the buyer? How can we negotiate those repairs if we both are willing to continue with this sell.

[@jazminedeblaw5442]

Let’s say the repairs are more than the sellers contribution….

[@ShaheedahHill]

I always consider homes listed "as is" as the sellers desire but they may still be willing to do necessary items if required to get the loan approved. For FHA loans they have an area on the FHA loan contingency that list an amount that the seller should have agreed to at the time they went under contract for required FHA repairs. This is usually not the case with conventional loans. Usually to have the appraisal cleared those repairs will have to be done prior to the home being able to close. The appraiser will need to come back out to the home and make sure they have been completed. @jazminedeblaw5442 Thank you for watching

[@jazminedeblaw5442]

@@ShaheedahHill thank you sooooooo much Ms. Hill !!!!!

[@Moonwalk07388]

Great information and been watching your videos. Great channel!

[@ShaheedahHill]

Thanks for watching!

[@ti8966]

Wish everyone had her in high school or college as an instructor

[@ShaheedahHill]

@ti8966 Thank you for watching

[@johnjenkinsmusic1]

Excellent! Very professional and knowledgeable. 🙏🏾

[@ShaheedahHill]

Thanks for watching!

[@larryr.6473]

If the seller's agent gives comps, can't that lead to being biased? As in, showing more houses that sold for a lower price, but there may be more houses that sold for a lower price.

[@ShaheedahHill]

It is ultimately the appraisers responsibility to use the comps they think best represent the value of the home. But as a listing agent, it is in your client's best interest that the home appraises for the contract price, so meeting an appriaser with the comps and any upgrades the home has is what should be done. You never know the appraisers knowledge of the area.

[@ij6035]

Very informative videos. Thank you!

[@ShaheedahHill]

@ij6035 Thank you for watching

[@alyssarussell9682]

Best video I've have see yet!! Thank you so much!

[@ShaheedahHill]

Wow, thanks!

[@totoro6214]

Very informative video! I've put in an offer for the most expensive home in the neighborhood by far (due to renovations) and was worrying quite a bit about the appraisal coming in low. I'll know what to expect now. Thanks!

[@ShaheedahHill]

Hopefully it will appraise, but if not go back to the negotiating table. In this market most sellers are making significant money on the home sale so they are willing to reduce to appraised value.

[@davidfain1454]

Thank you Ms Hill! I learned a lot and your presentation was very helpful. Keep up the good work!

[@ShaheedahHill]

Thank you! Will do!

[@jessesanchez9529]

Outstanding video. Great information. Thank you.

[@ShaheedahHill]

Glad it was helpful!

[@suemariedorazio2718]

Clear, understandable explanations! Thanks for very useful information!

[@ShaheedahHill]

Thank you for watching!

[@selaw21]

Thank you Ms. Hill. I am going through this process now and you clarified a lot for me.

[@ShaheedahHill]

Thank and you and best of luck!

[@MrsShante21]

Hi I’m a first time home buyer your videos have helped me tremendously so thank you sssoo much. My realtor is great but I was a lil confused till I started watching your videos.

[@ShaheedahHill]

Thanks Erika! I really appreciate you watching and best of luck with the process.

[@williesimpson1793]

Bitcoin has been around for over a decade now, while a lot of people where skeptical at first, it is no longer a secret that it has turned a whole lot of people into millionaires. Bitcoin is currently growing incredibly strong from a technical and fundamental perspective. One indicator of the digital asset’s fundamental strength is the massive exchange outflows seen throughout the past several months. I was introduced to bitcoin trading 4 months ago, As a married woman with kids and a career I thought I was too busy for that. but I decided to give it a try. so I started with $10,000. I made very little profit over the month as my funds grew from $10,000 to $11,540. but 2 months ago I met a very professional bitcoin expert called Mr Carlos Andrew, Ccarlos coached me from a novice-level into a pro, he taught me everything I needed to know, when I first started trading with carlos strategy, I didn't know it will turn out this big for me, in fact my first month of trading with his strategy, i was able to make 7btc with 2btc in 3weeks with the same strategy, He can be reached via Instagram @carlos_andrewfx or facebook facebook.com/Carlos.andrewfx [phone] for inquiries for insights into all crypto related issues.

[@nicole1969]

Would they look at a fire hydrant on the property( backyard)

[@ShaheedahHill]

Not in my experience, but if there would be a reason too. Your home insurance company typically does care how close a hydrant is to your house.

[@nicole1969]

@@ShaheedahHill thank you

[@johnbritt3750]

Would an FHA appraiser require the outlets in the bathrooms and kitchen to be GFI?

[@ShaheedahHill]

Typically no, they are not that detailed. They make sure utilities are on, toilets flush and water runs. They are looking for safe and sanitary conditions for the most part.

[@davidc8073]

Here's a tough one, what if the sellers do a counter-offer once they receive the purchase contract that if the appraisal comes back lower than the contract price, buyer to pay the difference with a cab not to exceed 10000 then the appraisal comes back 50000 under, is the sellers obligated to go with that new price which is 10,000 above the appraised value?

[@ShaheedahHill]

***Please Note - I am not your attorney and I do not know what is in your contract*** No, the seller is not obligated. If the contract does not state that the seller agrees to reduce the price to the appraised value then you are back to the negotiating table. The contract wording as you are sharing with me only says what the buyer is willing to do, not what the seller agreed to do. You are back to the negotiating table. I had this happen to my buyer, we agreed to pay $2,500 over the appraised value, it came in 40K under the contract price. The seller came down and the deal closed. It really depends on the sellers motivation. But of course discuss with your agent and attorney if necessary.

[@gabrielarteaga4847]

Thanks for the knowledge. I'm undergoing this process at the moment and I'm a little nervous because due to this crazy market I agreed to pay 20k over asking price and now I'm hoping the home appraises

[@shannabanana83]

Good luck!

[@yamokomayann7207]

@@shannabanana83 thanks for the video. Wondering from his question, when someone offer for instance 20k over asking price lets say house is 300k, you offer 320, then appraisal comes at 300k, which amount are you obligated to pay? By the way, moving to ATL from MD in January with he intent to buy right away if homes available, and please mark my name because you will be my realtor for sure. Thanks

[@ShaheedahHill]

It depends on the contract, if it has an appraisal contingency that says you can only pay the appraisal price then is would be the $300K, so then there are 3 things that can happen 1. Seller drops price to appraisal price 2.You offer to pay the contract price or negotiate any payment in-between. This will be a cash payment from you, the lender will only lend contract price. 3. You terminate the contract because you do not want to pay the contract price and seller does not want to reduce price. Yes, I would love to work with you!

[@cassandragordon123]

Why??

[@fritzjean-baptiste1988]

Thanks for your help

[@ShaheedahHill]

No problem, thanks for watching

[@shantellways6860]

Can you please do zoom meeting so we can ask questions

[@ThanhNguyen-sk6uc]

This is the most scary part of getting a house.

[@jamilangley7754]

This is so helpful! We’re currently days away from the appraisal. Hope things go in our favor!

[@ShaheedahHill]

Thanks for watching and best of luck. Would love to know how it turns out.🙂

[@adriajenkins-harper9706]

Did things work out?

[@jamilangley7754]

@@adriajenkins-harper9706 Yes, they did! We closed back in November! Thanks for asking 💕

[@adriajenkins-harper9706]

@@jamilangley7754 that's awesome. Congrats to you :) I'm mentoring my 27 yr old son thru this process. His appraisal is scheduled for next week, fingers crossed all goes well.

[@sandraparr2190]

Great points, excellent video.

[@ShaheedahHill]

Thanks!

[@jawbreakertv1172]

shaheeda, survey reveals 4791 less square feet than advertised. My realtor says house meet appraisal. Not sure what I should do or can do. That seems like a lot of property missing

[@ShaheedahHill]

If you have the appraisal report and you should if you are the buyer you paid for it...ask the lender to ask the appraiser about the difference.

[@ednalaboy1633]

I'm not sure how I stumbled across your video, but as a new agent, I'm glad I did!!! I hit that subscribe button, lol. I have a question I'm hoping you can answer...again, I'm a new agent...can an escalation clause and FHA Amendment be used together? If so, on the FHA Amendment, do I use the "escalated" price or the price of the original offer?

[@ShaheedahHill]

Hi and thanks for subscribing. Once you get the offer accepted you can update the FHA Contingency to reflect the contract price. You can add something like :All parties agree to execute a conformed copy of the Binding Agreement reflecting the final contractual price and terms" Best of Luck!

[@e_laboy1220]

@@ShaheedahHill thank you!

[@avibecalledblessed7503]

Can the appraisal cost be included in the loan? I'm pre-approved for 290, 000 loan. But I'm in contract with a home for 282,000.

[@ShaheedahHill]

Yes, it can. Ask your lender. Becuase some of them will ask you to pay upfront, but you will get a credit for it at closing. Some lenders will not require you to pay upfront for the appraisal.

[@avibecalledblessed7503]

@@ShaheedahHill thank you🙏🏾

[@victorcordero1458]

@@avibecalledblessed7503 how much did you end up paying for the house if you dpnt mind me asking .. im in the market right now trying to educate myself

[@waltergonzales990]

Thank you so much I learned a lot

[@ShaheedahHill]

Thanks for watching!

[@MoJo-ng5ot]

Thank you. I really learn a lot from watching your videos ❤

[@ShaheedahHill]

You are so welcome!

[@buggeroo22]

Excellent content!

[@ShaheedahHill]

Much appreciated! Thank you for watching.

[@sharlawatkins]

Your channel is so helpful. Thank you!

[@ShaheedahHill]

Thank you so much for watching and commenting - it is appreciated!!

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[@themandinkafamily]

If I own the appraisal since I paid for it, then that means I can be there with the seller and appraiser right? If I'm not there I don't trust the appraiser not to tell the seller what the home is worth.

[@ShaheedahHill]

It depends, you can ask to attend but usually because it is he sellers home and you don't own it yet they would have to approve you being there. But ask your agent and refer to your contract.

[@tbeautifulmelodies9820]

@Shahneedah Hill, what happens once you decide to switch realtor agents while not under contract? With the first agent, I did a written offer and a couple of days later, I changed realtor agents and bought the home that I had initially signed. The first realtor called me about it today 2/7/2023.

[@ShaheedahHill]

* This is NOT legal Advice, Consult with an Attorney* If you had a buyer's brokerage agreement with the first agent that may be a problem, since they found you the house initially. Review that contract. Ask your new agent for guidance. The contracts I use have a 60 day protected period - "If this agreement ends, but you buy a home that I showed you within 60 days of the agreement ending I am entitled to a commission , that is what the "Protected Period" refers to".

[@tbeautifulmelodies9820]

Is was way less than 2 months regarding signing the offer on the home. Both realtor agents were all right with it that is until the first agent which was two weeks working with her, and I had inform the realtor (first one) that I was going to move on it’s because she mention to her loaner that the appraisal may not go through and how the loaner said I didn’t qualify due to the selling price on the home she did the paper work on the home (offer) without consulting her loaner I was approved for less, then as soon as I decided to not work with her which she stated I could do that as long as I am not under contract, which I wasn’t. They started (the loaner) sounded desperate to keep me as their client. But I said no thank. He than mentioned that I am approved for a higher loan.

[@tbeautifulmelodies9820]

December 6 to December 19 with the first agent. I was the one who initially found the property through Zillow. She didn’t do much but show me the one house in person. I only view one place with her. I looked at a total of two homes and decided to go with the smaller sqft house.

[@lealea2194]

Hi. So if the house doesn't appraise for the asking price and you decide to walk away from the deal the buyer just lost $300-$600? Why isn't it a requirement that the seller pay for the appraisal?

[@ShaheedahHill]

The cost of appraisal is the buyer's responsibility because it is the a requirement of the buyer's lender, it has nothing to do with the seller. It is not a requirement from the seller. You are welcome to buy the property cash and without financing with no appraisal required.

[@Fox_6494]

WOWWWWWW!!!!!! Thats awesome!!!!!!

[@ShaheedahHill]

@Fox_6494 Thank you for watching

[@brendawilliams1975]

We rent the home we are buying The house is being sold as is because we have rented for9 years. The appraisal came back 37,000 less than offer. What happens now We were approved for a VA loan

[@ShaheedahHill]

I would recommend negotiating to the appraised value with the seller and/or the seller can dispute the appraisal if they think their home is worth more than appraised value.

[@yannie_tee]

Shaheedah, I did have another questions, when should I place the appraisal contingency in my contract? I just want to make sure I have it in place at the right time. Thank you in advance for your help.

[@ShaheedahHill]

The appraisal contingency will be in your initial contract. Ask you agent to review the contract with you ahead of time to make sure you understand it. You typically cannot add it later.

[@rafita1214blue]

Does the appraiser does his or her job before you sing the contract or after?

[@ShaheedahHill]

After you sign the contract and your offer is accepted. Thanks for watching!

[@tiffsterritoryonyoutube]

I always learn something new!

[@ShaheedahHill]

Thanks for watching!

[@konspiracy100]

1000 dollars for an appraisal in southern CO

[@hurricanefreak101]

Yep ours was 1600 and three appraisals later because the first two were under qualified for the property - were trying to wrap up by soon 😐

[@scottasbj]

In 1997, an appraiser was paid between #300-$400 to do an appraisal. It isn't really that much better, now. It is a lot of work, and takes a great deal of skill. I would be happy to get $600. It rarely happens. There might be a shortage of appraisers in your area. If they are doing them correctly, it is a very exhaustive process. It is also very dangerous out there.

[@scottasbj]

@@hurricanefreak101 Under qualified for the property? What does that mean?

[@hurricanefreak101]

@@scottasbj so there a shortage of appraisers - so they went and when they saw the property they backed out beucase they have never dealt with anything like that - annoying and the banks were upset because most of our underwriting is almost complete 😑

[@ShaheedahHill]

Yes, they are much less expensive in Georgia. But everything is higher in CA, NY, NJ, etc.

[@shelleyrivers2365]

You taught me so much in this one video I’ll be watching more thank you

[@ShaheedahHill]

Thank you so much - welcome to the channel!

[@patrickdurham8393]

I'm glad I don't live in Atlanta but I'm sad you don't live in Middle Tennessee.

[@ShaheedahHill]

🙂

[@Joy-sp3il]

Thanks for all the quality information and advice that you gave God bless you

[@ShaheedahHill]

Thank you for watching!

[@deandreilee]

Is there ever a situation where the appraisal is more than the seller's price? If so, how does that work?

[@ShaheedahHill]

Yes, that happens to me a lot as well...just less in this market this year homes may have appraised $2-5K over. Nothing really happens you just have some equity in your home! The seller will never see your appraisal, unless you share it with them- but there is no reason to and I don't recommend it, there is no benefit to you. If the house appraises for more the house just closes per the contract. So if you are under contract for 300K and it appraises for $310K then you will just still buy it for $300K. And you can walk away knowing you have $10K in equity in your home at closing.

[@crystalgray79]

That just happened to us. Our appraisal was 9k over the price we paid for the home. That’s a plus correct? We close on the home in two weeks.

[@ShaheedahHill]

@@crystalgray79 yes that is great! You have 9K equity in your home! Congrats

[@belleame1064]

@@ShaheedahHill NJ ic currently in a bidding war, homes are pricing 10,000 to 20,000 over asking.. Buyers will still lose money on appraisal costs and lawyer fees.. So, I'm hoping I don't have to terminate..

[@mega8664]

The Wright brothers seemed crazy when they said we will fly, the internet etc... we have to keep a open mind

[@clrichards4124]

Hi Shaheedah! My appraisal came in 50,000 less than the asking price. What are my options at this point? How about if I don’t see an appraisal contingency in my contract?

[@ShaheedahHill]

Wow that is a big difference, 1. The seller can drop the price 2. you can offer to pay more than the appraisal in cash 3. You can terminate the contract, if you have an appraisal contingency you should get your earnest money back - All gov't loans should have an appraisal contingency - FHA, USDA, VA - Ask your realtor about your appraisal contingency, it should be in there. In its conventional it generally has a time period that you have to get the appraisal in. I would go with option #1 or see you options for termination.

[@clrichards4124]

Shaheedah Hill Real Estate ok thank you so much for your help. I will go with #1 or #3 if they won’t lower their price you have been so helpful.

[@cassandragordon123]

@@ShaheedahHill the GAR forms should have a paragraph designated for contingencies I think because RE forms have that.

[@ShaheedahHill]

@@cassandragordon123 she didn't say she was in Georgia and all contracts are different depending on the state. But there is likely a contingency in there you are correct. Thanks

[@Youssef00]

Thanks for sharing

[@Iamcherese]

I’m under contract! I’m closing 6/30🤞🏾thank you for all of this wonderful information! You’re “America’s Realtor”🤣🤎

[@amclymon]

I just paid for an appraiser in swfl $575 in swfl just letting people know the current market prices

[@ShaheedahHill]

Thank you for sharing, it will vary buy market and size of home. And of course inflation. I did this video in 2020.

[@KN-ch2mi]

Our appraisal came in just at the right price we had offered, 6k over asking. I got the copy from the lender and for some reason. Just to keep our agent informed I sent him the copy. Was this a mistake? The price came at the offered priced. No surprises. But wonder if I shouldn't have sent him this info.

[@ShaheedahHill]

There is no problem sharing it with your agent.

[@KN-ch2mi]

@@ShaheedahHill Thank you shaheedah I always need to confirm with you my virtual agent! 💙

[@monicadeana4586]

Omg my appraiser was $900 👀 and I paid already- closing March 16th hopefully

[@ShaheedahHill]

It is more expensive in some states and size of home may also increase price.

[@JV-tv4zw]

Built a new construction home with a high end builder that doesn’t normally build in the area we’re building in (rural/farm land area). We knew it wouldn’t appraise but hoped one day it will like 20 years down the road. It was our forever home. House didn’t appraise when we applied for our construction loan. Came in $170k under our contract price. We ended up paying difference with cash. Now the city is saying our house is worth what we paid for it even though it appraised under. As result they want to collect property taxes on that full value. We did another appraisal 3 years later and it’s even lower at $180k under contract price. They still are using the fact that it’s worth that full price bc we were willing to pay it? Is this right? Just bc you pay a certain price it trumps any appraisal? Doesn’t seem right. Any suggestions?

[@ShaheedahHill]

A lot of cities use the sales price as the initial value when doing the first tax assessment. However, there is an appeal process at your tax office. Find out what the property tax appeal process is, bring your appraisals and the value will likely be lowered. Thank you for watching.

[@KofiO-vm8po]

Do the bank ever refund this fee ?

[@ShaheedahHill]

Typically no, however you do get a credit back at closing for the fee.

[@KofiO-vm8po]

Thanks

[@myson04]

If the appraisal comes lower than the purchase agreement price, I would inform my agent who will then communicate with the seller's listing agent? I'm trying to mentally prepare myself for this process. Thank you in advance!

[@ShaheedahHill]

Yes, they will negotiate on your behalf. Thanks for watching!

[@chesnutkc]

so with so many houses going up in price like crazy with inflation, is that included in the appraisal too? :(

[@ShaheedahHill]

Th appraisal will be based on other similar homes so if homes are selling at a higher price then the appraisal will reflect that.

[@giselejackson4649]

Just ran across your channel love it. Quick question I thought that appraisal's came from the bank your using. How do you get appraisal? Broker?

[@ShaheedahHill]

Your lender will order there appraisal and they will share it with you once it is complete. So you get it from your lender. Welcome to the channel!