Selling first home

Looking for some advice!

We live in Tennessee and listed our house at $375k. We had four offers, all above asking. We accepted an offer of $386k or $11k over appraisal. Our house was a little more difficult to compare, it’s a ranch with a bonus over the garage and a large corner lot, lots of upgrades etc. anyway the agent pulled several comparables, but one house had been sold way too low and they warned us that that may affect the appraisal if we’re unlucky. Well we were unlucky. The appraiser said it’s only worth $340k.

So here’s where we need to decide. Re list (no FHA buyers due to the appraisal) and risk that $11k over for the chance at a better appraisal, or just suck it up and take the offer. We’re so torn. Financially we can hang in there a bit longer to re list, and worse case it appraises the same and we don’t get anything over, BUT we could get a nicer appraiser who considers several comparables. We’re torn. We know our house is worth more than $340k without a doubt, but we worry about the market with the rising interest rates.

Thoughts?

submitted by /u/queenStr8
[link] [comments]

Looking for some advice! We live in Tennessee and listed our house at $375k. We had four offers, all above asking. We accepted an offer of $386k or $11k over appraisal. Our house was a little more difficult to compare, it’s a ranch with a bonus over the garage and a large corner lot, lots of upgrades etc. anyway the agent pulled several comparables, but one house had been sold way too low and they warned us that that may affect the appraisal if we’re unlucky. Well we were unlucky. The appraiser said it’s only worth $340k. So here’s where we need to decide. Re list (no FHA buyers due to the appraisal) and risk that $11k over for the chance at a better appraisal, or just suck it up and take the offer. We’re so torn. Financially we can hang in there a bit longer to re list, and worse case it appraises the same and we don’t get anything over, BUT we could get a nicer appraiser who considers several comparables. We’re torn. We know our house is worth more than $340k without a doubt, but we worry about the market with the rising interest rates. Thoughts? submitted by /u/queenStr8 [link] [comments]

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