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After the buyer and seller come to a "meeting of the minds" on the price of a house, there is one more person who must be convinced that the house is worth the selling price--the mortgage company's appraiser.

The appraiser looks for three similar houses that have sold in the same area within the last several months, and compares the selling prices of these homes with the one that is now on the market. The appraiser makes adjustments to account for the differences in each property, and averages the adjusted prices of the other three homes to arrive at a final opinion of value. In subdivisions or condominium projects where there are many similar properties and numerous recent sales, the appraiser's job is relatively easy. In neighborhoods of older homes that have been renovated or remodeled over the years, it can be like comparing apples and oranges.

If the appraiser's evaluation is lower than the selling price, it can stall the transaction because the lender may decline the buyer's loan because of the discrepancy. A real estate agent can work to minimize potential delays associated with the appraisal process by helping the seller to price the home as close to fair market value as possible.

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Shannon Aronson
Keller Williams Realty Premier Properties
488 Springfield Avenue
Summit, NJ. 07901
Mobile: 973-214-0691
Office: 973-376-0033 x 124
Fax: 908-273-2996
Email: ACutAbove@ShannonAronson.com

Shannon started her local real estate career 8 years ago with investment properties, both renovating houses for resale and acquiring rental properties. Because of her experience with buying and selling, Shannon is sensitive to the needs and expectations of buyers and sellers. Shannon Aronson has a Masters degree from New York University. Whether in life or in business, Shannon Aronson approaches her goals with unbridled determination, commitment and enthusiasm. Her dedication to achieving only optimal results makes her a sought after real estate agent in the area. Shannon uses her investment experience, her skills in negotiation and cutting edge Internet marketing to help her clients achieve their dreams. When you’re in the market to buy or sell your home in the area, Shannon Aronson and her team of competent professionals will deliver results that are A Cut Above. Looking for Real Estate in Short-Hills, Millburn, Summit, Maplewood & Livingston, New jersey, I can help! call today to schedule a private consultation.