Home Buying in Philadelphia>Question Details

Trulia Phila…, Other/Just Looking in Philadelphia, PA

With prices going up, how does the appraisal value affect the negotiation process when buying a home?

Asked by Trulia Philadelphia, Philadelphia, PA Thu Mar 7, 2013

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The appraisal isn't conducted until all parties have agreed on the price/terms and have signed off on an agreement of sale. If the property doesn't appraise for the agreed upon price, then the bank will not approve financing on the property.


Ryan C. Garrity
U S Spaces, Inc.
2043 Locust St., 1F
Philadelphia, PA 19103
215-829-8850 x208
215-514-9424 (cell)
0 votes Thank Flag Link Thu Mar 7, 2013
Home sales go forward because consumers are willing to pay full price. In case that appraisal problems arise in a home buying process, both parties normally agreed to the appraisal price and the transaction continue.

Best of Luck,

Maria Cipollone
Century 21 Tenace

2 votes Thank Flag Link Thu Mar 7, 2013
The only time there are negotiations involving the appraised value is when the appraisal comes in lower then the already agreed to price.
Don Sherman-SRES
Century 21 Advantage Gold-Castor
0 votes Thank Flag Link Thu Mar 7, 2013
Appraisals usually occur after the agreements has been signed by both parties...so, usually it doesn't affect the negotiations...having said that...it's helpful if the original listing agent tries to list the property with a reasonable expectation that the property will appraise for that price...
0 votes Thank Flag Link Thu Mar 7, 2013
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