Selling a home is a complex process. Whether you are a real estate agent listing a home for a client or a homeowner selling your home yourself, pricing a property can be very difficult in this constantly changing market. Getting an appraisal on the home you are selling is well worth the price.
An appraisal will tell you how much your home is worth and will help you list your property properly. On a daily basis I see homes that have been on the market for many months, sometimes over a year! These homes have been overpriced and many of them would have sold a long time ago had they had a professional appraisal done before they listed it. Yes, we are in tough economic times, but even in a buyer's market, a home will sell if the price is right.
A pre-listing appraisal can be a useful negotiating tool as well. It will be hard for a buyer to argue with your asking price when you have a professional appraisal by a state certified appraiser saying how much it is worth.
A pre-listing appraisal is especially helpful for a complex property such as a high end home, a property with acreage, or a home with an unusual design. These properties are difficult to determine a list price for and an appraisal can help.
Real estate agents can benefit from a pre-listing appraisal. It will give you credibility to your list price and will show your client that you are serious about selling their home.
If you are selling your home as a 'for sale by owner', an appraisal will help you as well. You are already saving thousands by not paying a commission to an agent so an appraisal is a very low cost in comparison. Knowing how much your home is worth before you sell it will help you sell it more quickly.
Pre-listing appraisals are very useful in this market. Yes, there are plenty of web sites and free "services" that offer home valuations, but they have never been in your neighborhood and they are not as familiar with your property as a local appraiser. The city assessment on a home is not very reliable since they only appraise the home once a year so it is probably outdated. Also, city appraisers do a 'mass appraisal' where they determine a value for every home in a neighborhood in a single appraisal.
For more information about pre-listing appraisals or other appraisal services, call Jeff Ward at 757-647-6485 or visit my home page.