4 Reasons To Get A Home Appraisal Before Selling Your Home
February 19, 2010 at 6:43 pm 1 comment
A full home appraisal may cost you anywhere from $250 up. It depends on the charging methods the real estate appraiser uses. The home appraisal fee could vary depending on where you live and the type of property being appraised. The appraiser might base the fee on the property value
and the complexity of the appraisal.
A home appraisal will involve the Certified Real Estate Appraiser visiting your property for an inspection. He or she will take photos, measurements and prepare a full home appraisal report including real estate market comparisons.
1. Adds Credibility To Your Asking Price
Home buyer’s are suspicious of price and will probably believe that your asking price is grossly inflated. A formal written home appraisal could put a stop to any argument. A written home appraisal (by a Certified Real Estate
Appraiser), is irrefutable evidence that the price was arrived at in a scientific way, rather than just by “pulling figures out of the air.”
A real estate appraisal should include photos, measurements and details of comparable property sales. It is a professionally prepared valuation document prepared by a Certified Real Estate Appraiser that you can show to any prospective buyer.
A full home appraisal can be the best way for a motivated, serious home seller to determine the most profitable asking price.
2. Speeds Up The Whole Sales Process
Having a full written appraisal can put everyone’s minds at ease. The buyer will feel assured that they are not being taken advantage of. No one likes to get “ripped off.” Having a full home appraisal may “fast track” the negotiations, as your buyer may have more confidence in finalizing the deal.
3. Helps The Buyer Qualify For Mortgage Finance
A full written appraisal my help the buyer borrow the required funds to buy the property. Lenders always want “hard” evidence of a property valuation before they are willing to risk their money. More than likely, the lender will insist on an appraisal that has been prepared by a Certified Real Estate Appraiser.
4. Stops Bargain Hunters Disputing Your Asking Price
A written home appraisal might prove to be good ammunition to fire back at “bargain hunters” who will try to pressure you into selling your home at a “giveaway” price. A written appraisal is hard for any real estate buyer to argue against.
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Just like the Denver real estate, the Lafayette Colorado real estate, Arvada real estate and the Centennial real estate markets have some of the hottest properties. Hundreds of people come each year to the State of Colorado looking for some great properties. If you too are looking to relocate to Colorado, you must check out these markets.
Entry filed under: denver real estate. Tags: Arvada Real Estate, Centennial real estate, denver real estate, Lafayette Colorado real estate.
1.
J Rossi | February 23, 2010 at 8:41 am
Thanks for the suggestions with regard to the use of appraisals in establishing a better position for the seller.
However, please be advised, that according to USPAP 2010-2011: Management Section -
An appraiser must not accept an assignment, or have a compensation arrangement for an
assignment, that is contingent on any of the following:
1. the reporting of a predetermined result (e.g., opinion of value);
2. a direction in assignment results that favors the cause of the client;
3. the amount of a value opinion;
4. the attainment of a stipulated result (e.g., that the loan closes, or taxes are reduced); or
5. the occurrence of a subsequent event directly related to the appraiser’s opinions and specific to the assignment’s purpose.
Therefore, please make it clear that the appraiser’s fee or charge cannot be based on the value (price) of the property. (i.e., percentage of price or value conclusion.)
Thank you.