Vancouver Wa Real Estate - Elite Realty NW

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A VERY Expensive Closet! Vancouver Washington Real Estate

vancouver wa real estate

A VERY Expensive Closet! Vancouver Washington Real Estate

We just closed a deal today on a Vancouver Wa home that almost didn't make it. Tough negotiations almost killed the deal. Then there was the inspection.

We had a buyer in less than 11 days who was ready to make a deal. The inspection was performed and we were back to negotiations. After 2 days of bargaining we were headed for closing. Everything was progressing to plan when we hit a snag. The appraisal came back low!

How could that be? Our pending price was lower than any other comp in this Vancouver Wa. neighborhood!

Oh wait... what's this? The appraiser showed the home being 80 sq. feet smaller than the tax records. After calling the bank and requesting a re-measure, the appraiser admitted to his mistake and corrected the appraised value.

The mistake was about the size of a walk-in closet but changed the value by over $8000. That would have been enough to blow up the deal. That was a very expensive closet!

Photo by PPDIGITAL

Mark Hall

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6 comments • Mark Hall Homes for Sale Vancouver Washington • May 27 2010 02:51AM

Comments

Wow -- an expensive closet indeed -- sounds like all will be well however.

Posted by Benjamin Realty LLC almost 2 years ago

Thanks for sharing . I can't imagine the size of a closet adding $8000 to the value.

Posted by GITA BANTWAL, REALTOR,ABR,CRS,SRES,GRI BUCKS County & Philadelphia, PA HOMES (RE/MAX Centre Realtors) almost 2 years ago

Great story. Have to watch these appraisers.

Posted by Tom Priester "Results Driven Real Estate" (Keller Williams Realty) almost 2 years ago

Good thing you caught the error

Now the buyers have a place to hang their hats

enjoy the day

Posted by Don MacLean Realtor franklinma-homesforsale (Simolari & MacLean REMAX EXECUTIVE REALTY) almost 2 years ago

Thanks for the comments. Imagine if that closet had been in L.A. The shoes alone would have been worth $8000!

Posted by Mark Hall Homes for Sale Vancouver Washington (Elite Realty NW - Keller Williams, Vancouver Washington) almost 2 years ago

You have to always be sure the people who are working with and for you are on the ball.  You unfortunately almost have to follow them around.  Good for you for keeping on top of things. 

Posted by Lesley Wagstaff - For Real Estate and Mortgages (Re/Max Results Realty in Vancouver, BC) almost 2 years ago

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