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Thinking of selling For Sale By Owner (FSBO)
Choosing to sell your property on your own is a hugh decision. It is a good idea to have an expert who is an "objective" third-party prior to marketing the property. And that’s where we come in. We can provide you with a pre-marketing appraisal which will allow you, the home owner, to know the true market value of the home prior to marketing it for sale. The home owner can use this appraisal to show potential buyers the market value of the home. Having an appraisal done prior to marketing the home will eliminate "over pricing" the home from the start which can waste a lot of home owners time. It will also eliminate risk of the buyer not being able to obtain financing for the home due to an appraisal problem in the future.
Pre-Listing Appraisal Services
If you’re working with a real estate agent to list your property, more than likely they will provide you with a Comparative Market Analysis (CMA) that lists selected sales in your area as one of the first steps in determining what to set as the “Listing Price". This step is vital if you're going to maximize your profit and minimize the home’s time on the market. However a real estate agent is not unbiased. They are in the business to earn a commission. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our appraisal fees are based on efforts to complete the report and not a percentage of the sales price. So a professional appraisal can often help homeowners make the best decisions on investing in their homes and setting a fair sales price. Also, many real estate agents don't measure the home. They estimate the square footage or use tax records as a basis. This is where we come in.
Even if you're working with the most experienced real estate agent, it's probably in your best interest to have an "objective" third-party's opinion of value prior to signing a Listing Agreement. We can provide you with an unbiased pre-listing appraisal so both you and your agent have an accurate description of your home's features and a detailed analysis of the most recent and similar "comparable sales" or as they're commonly called, "Comps". In addition, we will include active listings in our report. These active listings are going to compete with your property on the open market. We believe a detailed report will help you set a realistic selling price so your home will attract buyers. A professional appraisal can:
- Be a very valuable negotiating tool once you have a potential buyer
- Prove the home's size (sq ft). Many real estate agents estimate instead of measuring.
- Make the seller aware of problems and eliminate last-minute repair hassles that might delay a closing
- Decrease the chances of unknown problems that cause sales to fall through
- Eliminate the wait for the buyer or their mortgage company to get the appraisal done on their own
Some people are surprised when they find out that the market value of their home is more than they thought, so investing in a professional appraisal actually allowed these people to receive several thousand more dollars than they thought they would when their home was sold. Others have an inflated opinion of their home's value and an appraisal helped them to realistically price their home in order for it to sell. An overpriced home will not attract buyers, which means no offers and no closing and that you have wasted valuable time, money, and efforts.
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