Appraisal Institute President Sara W. Stephens, MAI, was featured Dec. 14 in The Washington Post where she discussed how homebuyers and sellers should handle a situation when an appraisal comes in below a home’s contract price.
“Homebuyers should certainly ask to see the appraisal report, which is their right. Make sure all the data are correct, such as the total square footage and the number of bedrooms, bathrooms and garages,” Stephens said. “If all those things check out, I would get in a car and check on the comparable sales, and make sure they are in the same market and have the same characteristics as the home you’re trying to buy or sell.”
This story is among the recent media coverage included in the “AI in the News” feature on the members-only section of the Appraisal Institute website.
Appraisal Institute members appearing recently in local media coverage include Tim Hooper, MAI,
The Capital (Annapolis, Md.); Gary Crabtree, SRA, The Bakersfield Californian; Michael Clapp, MAI, SRA, SRPA, Winston-Salem (N.C.) Journal; Greg Brown, MAI, SRA, SRPA, Gulf Breeze (Fla.) News; and Brandon Boudreau, Associate member, The Detroit News, WWJ-AM 950 (Detroit), WDIV-14 (NBC) Detroit and MLive.com (Detroit).
See the latest media coverage about the real estate valuation profession, the Appraisal Institute and its members. Media coverage at “AI in the News,” found on the member log-in page of the Appraisal Institute’s website, is updated daily and also includes the latest news releases from the Appraisal Institute.