How Appraisals Are Derailing Home Sales

This article explains how appraisals are derailing home sales. It gives a clear example. More requirements in the appraisal process are resulting in an increase in cancelled or delayed contracts. This, however, has its benefits for buyers. It can make houses cheaper and also ensure the buyer is not overpaying and the lender is not over-lending. The article also explains ways to make the process easier. It explains how sellers can prepare; how buyers can protect themselves; and what to do if appraisal value comes in below the purchase price. Here is the article: http://www.smartmoney.com/spend/real-estate/how-appraisals-are-derailing-home-sales-1320357466034/?grcc=grdt