What Is VA Tidewater: What Home Buyers & Sellers Must Know
If you’re working with a VA loan, you may have heard the term “Tidewater” come up during the appraisal process. For both buyers and sellers, understanding what Tidewater means and how to handle it effectively can make a significant difference in the success of a transaction. As a top Tacoma real estate agent, I know how to navigate this situation and keep a deal together. What Is VA Tidewater? The Tidewater Initiative is a process unique to VA appraisals that occurs when an appraiser believes the home’s value may come in “below the surface” of the agreed upon contract price. Instead of immediately issuing a low appraisal, the appraiser invokes the Tidewater process, which gives the real estate agents and parties involved a brief opportunity—typically 48 hours—to provide additional market data supporting the contract price. While this process is designed to offer a fair chance to justify the home’s value, it can create stress for both buyers and sellers. A low appraisal can mean the ...