If an appraiser has issues with the contract value, what should the listing agent provide?

If an appraiser has issues with the contract value, what should the listing agent provide?

• A. Additional fees
• B. Comparables
• C. Property inspection reports
• D. Buyer testimonials

Answer: (B)

When an appraiser has issues with the contract value, it is essential for the listing agent to provide comparables, also known as "comps." Comparables are properties that are similar to the subject property in terms of size, location, condition, and features, which have recently sold. By presenting these comparables, the listing agent can help the appraiser understand the market conditions and justify the contract price based on actual sales data. This evidence can assist in convincing the appraiser that the agreed-upon value is supported by the local real estate market, which is crucial in ensuring that the appraisal aligns with the contract price. Providing additional fees, property inspection reports, or buyer testimonials does not directly address the appraiser's concern with the contract value. While these documents may be useful in other contexts, they do not effectively demonstrate the market's willingness to pay a certain price, which is what comparables accomplish. Therefore, presenting relevant sales data is the most effective strategy in this scenario.

When an appraiser has issues with the contract value, it is essential for the listing agent to provide comparables, also known as "comps." Comparables are properties that are similar to the subject property in terms of size, location, condition, and features, which have recently sold. By presenting these comparables, the listing agent can help the appraiser understand the market conditions and justify the contract price based on actual sales data. This evidence can assist in convincing the appraiser that the agreed-upon value is supported by the local real estate market, which is crucial in ensuring that the appraisal aligns with the contract price.

Providing additional fees, property inspection reports, or buyer testimonials does not directly address the appraiser's concern with the contract value. While these documents may be useful in other contexts, they do not effectively demonstrate the market's willingness to pay a certain price, which is what comparables accomplish. Therefore, presenting relevant sales data is the most effective strategy in this scenario.