02/04/2026
Did your buyer get a deal?
The 60-Second Equity Check
When you get an appraisal back at contract price, open the report to the adjustment grid (usually page 2 or 3 of the main form). Here's what to look for:
Find the adjusted value for each comparable. Then look at the gross adjustment percentage for each one. This tells you how much total modification was needed to make that comp comparable to your subject property. Lower gross adjustments mean a more reliable comp.
Now ask yourself: where do the comps with the lowest gross adjustments fall relative to the contract price?
If they're above contract price: Your buyer likely has some built-in equity. The appraiser may have reconciled at contract when the data supported higher. The negotiation did create real value.
If they're right at or below contract price: Contract price was accurate market value. The negotiation got your buyer to the right price, but the starting point was above market. Still a win, just a different kind of win.
This takes about a minute and gives you a much clearer picture than guessing.
Read the full breakdown in this week's post:
Jeff Prewitt Prewitt Appraisals
