Why a Pre-Sale Appraisal?

Pre-Sale Appraisals

Now more than ever, a pre-sale appraisal should be just as important as getting pre-qualified for a loan. This should be the first thing a homeowner should do before putting their home on the market. For the first time in most of our lives, homes have lost their value in these rough economic times. So it is very important to price your home with a fair market value of what your home is worth. Buyers do their homework and know when a home is overpriced. In this market, and these times you will not sell your home if it is overpriced, unless you are very lucky. Also, you do not want to leave money on the table by underpricing your home.



Pre-Sale Decisions

Before someone decides to sell a home, there are several decisions to be made. First and foremost: ''How much should it sell for?'' But first there may be other equally important questions to ask: ''Would it be better to paint the entire house first?'' ''Should I put in that third bathroom?'' ''Should I complete my kitchen remodel?'' Many things which we do to our houses have an effect on their value. Unfortunately, not all of them have an equal effect. While a kitchen remodel may improve the appeal of a home, it may not add nearly enough to the value to justify the expense.

Appraisers can step in and help make these decisions. Unlike a Realtor, an appraiser has no vested interest in what amount the house sells for. His fee is based on his efforts, not a percentage of the sales price. So seeking a professional appraisal can often help homeowners make the best decisions on investing in their homes and setting a fair sales price.