Impact of VA or FHA Appraisal

It’s a crazy time! People are selling their homes for more than the neighbors home. However, if your buyer is purchasing with a VA or FHA Loan be aware that appraisal stays with the home for 6 months! That means if you listed at $300,000 and the appraisal comes in at $275,000 your home is now worth $275,000 for 6 months! You can lower the price to the buyers new offer or the buyer can walk away. But your dream of $300,000 sales price is gone for the next 6 months.