Pre-Purchase Home Appraisals For Cash Sale In Baton Rouge Explained
This involves the homebuyer paying cash and obtaining a pre purchase home appraisal, pre-purchase home appraisal or cash sale home appraisal to determine if they're paying a fair price and if the physical information presented by REALTOR is correct or not. Physical information can be the actual verified living area size, such as is this home really 2,800 sq. ft. of legal heated and cooled sq. ft. or is it really 2,400sf sq. ft. If the average sales price in a market is $110/sf, then that's a big deal.
Also, both Appraisers and REALTORS are not Home Inspectors. Just to be fair, when a REALTOR lists a home, they don't know what possible problems there could be inside the walls or with a central heat/air system. Home Inspections, normally performed AFTER the purchase agreement has been written, uncover such costly defects and help buyers pay a discount because of these deficencies. Yes, I just said a buyer should not pay the purchase price IF a home inspection reveals say $5,000 in needed repairs. That $5,000 should be deducted from sales price and purchase agreement be renegotiated.
A resource for locals in Greater Baton Rouge to help understand the real estate appraisal process and where it fits into their home valuation. Videos are by veteran Home Appraiser Bill Cobb and Accurate Valuations Group 225-293-1500
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