If you are preparing to move to a new home, one essential step is a successful transaction to sell your current home. Not only do you need an appraisal before selling a home, but you also need to consider home staging, cleaning, repairs, renovations, and more. An experienced real estate team, like DUFFY Realty, can walk you through the most effective strategy to ensure you maximize equity and find a good buyer.
Appraisal: What it is and Why You Need it
The true market value of a home can be obtained by hiring an unbiased appraiser to assess the property. If a buyer is planning to borrow money from a lender or mortgage broker, then an appraisal will be required. This step is a way for the lender to protect their interests by avoiding overfunding (loaning more money than the property is worth).
Did you know that the bank appraisal is a common reason why a real estate deal fails? If a buyer depends on a mortgage to cover the cost of the purchase, then an appraiser will need to come into the property to evaluate the value. Sometimes, it is discovered that the appraised price is less than the offer price, which means that the buyer will not be able to get the full financing needed for the purchase.
Are You Ready for an Appraisal Before Selling a Home?
You can bring in an appraiser to determine the value of your home before listing it on the real estate market. Before you spend the money, it is smart to do a thorough walk-through to look at the property with a critical perspective.
Identify potential areas that need to be repaired or renovated. For example, broken tiles, damaged siding, roofing problems, and other issues should be addressed. Not only should you think about repairing current damage, but it might also be beneficial to invest in home improvements that will boost the value of your home. Make sure to consider aspects such as curb appeal, clearing out clutter inside, eliminating pet odor, deep cleaning, and more.
Consider providing a list of improvements for the appraiser to see, which brings attention to the investments that have been made on the property. Sometimes, the appraiser doesn’t know to look for specific improvements because they aren’t aware of the work that has been completed. This step is especially important if you are selling a high-priced, luxury home.
Finding a Real Estate Team to Help with Your Home Purchase
If you want a smooth, easy transaction when selling your home, then you must enlist the help of an experienced real estate team. DUFFY Realty is here to help! We offer many years of experience in the real estate industry. Our goal is to help you maximize your equity. Not only can we help you find the right buyer, but we offer a competitive commission structure that is the fraction of the cost compared to other real estate agents. Call to learn more about the quality real estate services that are available for your family: (678) 318-1700