Why get an Appraisal before you list your home?
There is a difference between an Appraisal and a BPO (Brokers Price Opinion) or CMA (Comparative Market Analysis)? A Broker Price Opinion and Comparative Market Analysis, provided by Realtors, may contain active listings and homes under contract which are not an accurate indication of what your home would sell for if it went on the market today.
Certified Appraisers have the training and expertise
Appraisals are completed by Certified Appraisers who have geographical and industry expertise that far exceeds the knowledge of the typical Realtor. We love Realtors, and partner with many, however, the education and experience requirements for appraisers are much more stringent than for real estate sales professionals. That is why lenders, tax jurisdictions, and courts rely on certified appraisals. Our appraisers will supply you with not only a market value for your home but superior market knowledge to back it up.
Correct Home Size
In addition we will provide you the correct size of your home. Our appraiser will physically inspect the inside and outside of your property, take ample notes and photographs and will measure your home. Many homes are incorrectly reported on county records data, and your home could actually be larger than you think. Measuring your home correctly could mean thousands more in sales price. You shouldn’t leave that money on the table!
Beware of accepting an inflated offer
One of the big risks of selling your home is accepting an offer for more than it will appraise for. In our fast-paced market, bidding wars can be common. However, just because there is an offer above your list price doesn’t mean that the lender’s appraisal will support that price. What? Why? Lenders must have an independent appraisal completed, and that appraisal relies on closed sales data as well as other specific factors. If homes haven’t sold yet to support the higher offer received, you might have problems at closing. This could cause weeks or months of delay, and could cost you thousands of dollars! Let one of our appraiser experts analyze your situation to see if you should protect yourself against this situation which can cause frustration and disappointment.