Pre-Listing Appraisal Services
If you’re working with a real estate agent to list your property, they’ll provide you with a Comparative Market Analysis (CMA) that lists selected sales in your area as one of the first steps in determining what to set as the “Listing Price".
But even if you're working with the most experienced real estate agent, it's in your best interest to have an "objective" third-party's opinion of value prior to signing a Listing Agreement.
An appraiser has been particularly trained in identifying value differences between properties and applying these differences in a way to arrive at a value for the subject. The education process to become an certified appraiser focuses on this as does continuing education and state licensing. Agents receive training in other areas.
In addition to helping you set a realistic selling price so your home will attract buyers, a professional appraisal can:
- Be a very valuable negotiating tool once you have a potential buyer
- Impress buyer’s with written proof of your home’s condition inside and out
- Make yourself aware of problems and eliminate last-minute repair hassles that might delay a closing
- Decrease the chances of unknown problems that cause sales to fall through
In the past, many people were been surprised to discover that the value of their home was actually higher than they thought, so investing in an appraisal allowed them to receive more than they thought when their home was sold.
Others have an inflated opinion of their home's value and an appraisal helped them to realistically price their home in order for it to sell. An overpriced home will not attract buyers, which means no offers and no closing and that you have wasted valuable time, money, and efforts. Agents agree that in this challenging market, proper pricing is critical in attracting buyers.
Improvements to add value
In addition to “how much?”, there may be other important questions to ask yourself before listing your home. Questions like ''Would it be better to paint the entire house before we sell it?”, ''Should I put in that third bathroom?'', ''Should I complete my kitchen remodel?'' Many things which we do to our houses have an effect on their value. Unfortunately, not all of them have an equal effect. While a kitchen remodel may improve the appeal of a home, it may not add nearly enough to the value to justify the expense.
We can help with these decisions. Unlike an agent, an appraiser has no vested interest in what amount the house sells for. Our appraisal fees are based on efforts to complete the report and not a percentage of the sales price. So a professional appraisal can often help homeowners make the best decisions on investing in their homes and setting a fair sales price.