Can you sell your home for more than the appraisal value? Yes, you can sell your home for whatever amount you want, as long as the buyer is willing to pay it. The Mike Z Team are real estate experts in Southwest Florida and we know that banks will only loan up to a certain amount of the LTV ratio (loan-to-value). For cash buyers the appraisal is not an issue, but when dealing with a financing contingency you need to be prepared for a low appraisal. For buyers with a mortgage, the difference between the appraisal value and the sales price and be made up in an additional cash downpayment by the buyer in order to qualify for the loan. Remember, cash is king! check out below to see what sold in Park Shore in February 2016:
Park Shore, Naples Home Sold
696 Fountainhead Ln, Naples: 3 Bed, 3 Bath, 2,329 Sqft, 2 Car Garage, Sold for $1,075,000 in 90 Days
The moral of the story is make sure you are working with a professional Realtor that is experienced and can keep deals together with curveballs. Even though a majority of the transactions in Southwest Florida are cash deals, it is very likely you will receive offers with finance contingencies as well. For more information on Park Shore or similar Naples Communities contact The Mike Z Team today at 239-325-6490 or mikezrealty@gmail.com