Answering three common questions about appraisals to prepare sellers.
What should sellers know about an appraisal when you’re selling your home? Well, an appraisal is a non-biased third-party opinion on the value of your home. It’s critical to get the maximum price that you can during the sale of your home. There are three questions that we get all the time, and we’re here to answer those for you.
1. What is an appraiser looking for when they’re evaluating the price of your home? They’re looking for the upgrades you’ve made to your home, and whether any items are in such disrepair that it would prevent a lender from being willing to give a buyer a loan on your property.
“It’s critical to get the maximum price that you can during the sale of your home.”
2. Why does an appraisal gap occur, and what can we do about that? So an appraisal gap comes into play when there’s a difference between the appraiser’s opinion or value and you and the buyer’s opinion of value. There’s a host of reasons that could come into play if they are not making the adjustments the way that we might like them to make those adjustments. There are a number of ways to address those, and that’s why it’s critical to have a certified negotiation expert working with you to push through those issues on the sale of your home.
3. Should you get a pre-appraisal done before you put your home on the market? There are a lot of opinions in the marketplace. It really is not valuable to get a pre-appraisal done because, ultimately, the buyer of your property has to get their own independent appraisal done, and that is through their lender. We do not get to select the appraiser, and it’s important that it’s a non-biased third party, so it really is not valuable to get that pre-appraisal before you put your home on the market.
Appraisals can make or break the sale of your home. So give us a call so we can talk through all those details. We’d love to have that conversation.
We are a Phoenix husband and wife realtor team: our office in in North Phoenix and we call Fireside at Norterra home.
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