Remove the Sellers’ Greatest Fear

Dec 21, 2022 | Buyer Tips, Real Estate

Remove the Sellers’ Greatest Fear

When multiple buyers compete for a home, the winning bid is usually higher than the sellers’ asking price.

Although sellers are always excited to get offers above their asking price, they often fear that the appraisal will end up lower than the purchase price. If that happens, the deal could fall through or the sellers may have to accept the lower price.

If you’re competing in multiple offers as a buyer, you can give yourself a significant advantage over the other buyers by offering Appraisal Gap Coverage. This means if the appraisal is lower than the price you offered, you’re willing to pay the difference in cash.

And just like that, you can remove the sellers’ greatest fear – a low appraisal.

If you have any questions about how Appraisal Gap Coverage works or when to offer it, click the link to schedule a call.