The Importance of a Home Appraisal

By
Real Estate Sales Representative with DIR-USA.com

We Buy Houses Fast - Baltimore MD House Buyers: Carrying out home appraisal is done to help you understand how much your home is worth, and where you should set your asking price. Unlike home inspections, home appraisals are not necessary mandated by law. But that does not imply that they are less important. Selling a house means taking into account every detail that matters. And knowing how much to sell for is one of those details that you can simply not overlook. It’s a task carried out by appraisers, who are relatively more affordable than inspectors.

The importance of Home AppraisalWhen you are looking to get appraised, make sure you schedule it at the right time. As much as you have relative freedom in picking when to have the appraisal carried out, there are times considered better than others. For instance, have it done after an inspection, when you have carried out all your repairs and made any improvements you wanted. This will help you know the price you are going to work with. If you have the appraisal done before the inspections, any changes you make will not be accounted for. This will leave you in doubt when it comes to how much your house is worth because the value always increases after repairs and improvements.

Ensure that you get a copy of your appraisal report. Agree to this prior to the appraisal to avoid any friction afterwards. And when you do get the report, avoid skipping to the end part and reading the conclusion that has been drawn. Rather, read through the whole thing, and understand everything that it has to say. If you are in doubt about anything, call the appraiser and get clarification.

Work with your home appraisal report to know if the recommended asking price is really worth it. Involve your real estate agent as well. If the price is a little less than what you were expecting, get advice on what more changes you can make to make the price ascend. It might be some cabinetry work in the kitchen, tile-work in the bathrooms, or furniture work in the bedrooms. Whatever ideas you can collect, put them into action, and watch your homes value increase.

As always, being more informed of a process makes you more alert. Learn about the appraisal process, and try to understand at least the basic parts of it. Don’t shy away from asking when anything you felt was part of the appraisal is left out.

 

The Importance of a Home AppraisalCityHomeBuyers.net is Peter Gauthier, a Real Estate Investor that buys and sells houses like kids trade baseball cards in Maryland Prince George’s Maryland! If you have a home that you need to sell, contact us to see how we can buy your houses in 7 days or less and close when you want!

To see if your house would qualify for our fast home purchase program, please complete our confidential home seller questionnaire on our website at CityHomeBuyers.net

 

 

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Comments (1)

Kathy Sheehan
Bay Equity, LLC 770-634-4021 - Atlanta, GA
Senior Loan Officer

I would recommend that if you recommend an appraisal to a seller, the same criteria be given the appraiser as if it were for a mortgage application, such as age of comp, distance from subject etc. 

Jan 17, 2011 11:29 AM