How The Duncan Duo handles a low appraisal for a seller - a podcast by The Duncan Duo & Associates

Andrew Duncan, Tampa's #1 Realtor, has a talk with David Diaz ofWaterstone Mortgageabout The Duncan Duo team effectively handles a low appraisal.

He goes through a few scenarios and steps they take with the seller if an appraisal comes in low. Ultimately it's up to the seller to make a decision but some of the options are: to dispute the appraisal and provide other comps; to put the home back on the market because they don't agree with the appraisal and if there were multiple offers; sometimes appraisers view things differently; and sometimes they might encourage the buyer to choose another lender to get a new appraisal; or lowering the price.

Sometimes the seller would agree because they don't want to go through the hassle of putting the home back on the market and wait 30-60 days again for another buyer; and if there is enough interest in the home, due to the supply and demand, some buyers end up paying the difference in cash if the appraisal comes in short.

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