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What happens if the appraisal is lower than your offer? Here’s what N.J. real estate agents say. Updated 11:15 AM; Today 11:00 AM What do you do when the appraisal comes in lower than the offer?Patti Sapone | NJ Advance Media Facebook Share Home buyers in today’s seller’s market are battling through low inventory and stiff competition by taking on huge risks including an appraisal contingency waiver. Mortgage lenders send an objective party, known as an appraiser, to look at the home and give it a value. And with the average price of a home in New Jersey rising $100,000 since last year, the appraised value is often coming in lower than the offer price. ....
These 7 cheap fixes will get you more money when selling your N.J. home, agents say Updated Mar 14, 2021; Packed open houses. Listings selling in days. Bidding wars. It’s a seller’s market especially in New Jersey where inventory is low but closed sales were up more than 17% this January over last January and the average sales price on a single family home has jumped 22% to $504,585. But if you’re looking to put your house up for sale there are still things you can do to draw more interest, get more money and save yourself headaches during the home inspection process. ....