Appraisals
As a buyer’s agent, it’s a beautiful thing when the bank’s appraisal comes in higher than the purchase price you negotiated. Appraisers are notoriously blind to rental income comps and gentrifying markets, so I make it my business to give appraisers as much information as they need to understand our purchase price. I’ve never had an appraisal come in short and today I had one come in $25,000 above the purchase price. In this business it’s important not to take anything for granted, and in the case of appraisals, you can’t trust that a bank will understand the value of real estate like you do.