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Property Appraisals from a Seller's Viewpoint
If you are considering selling your home or any other property you may own, you will most
likely want to list it for sale with a real estate agent in order to give it the best possible
exposure to prospective buyers.
Before listing your property for sale, you should consult at least three different agencies
and request a market analysis from each. You will most likely be surprised at the differing
values and suggested sales prices you get. Don't be fooled by a high amount. Remember, you are
dealing with real estate agents. They are not acting as real estate appraisers even if they
have a license to do so. They are in business to make that commission and the first step to
that is to secure the listing.
Sadly, most homeowners fall for the best pitch and sign up at the highest suggested
listing price. Realize that the buying public is not completely ignorant and stupid. Even
when you finally get an offer, it will most likely not be near your expectations. This is when your
agent will begin to pressure you to lower your asking price and you will probably agree.
Well, all this time has passed and you may have lost a sale because buyers would not look at
your home at the inflated price you were asking.
Going back to square one; you want to sell your home which is most likely the largest
investment you have. Educate yourself before you take that step of listing it for sale.
Hire an independent property appraiser and get an appraisal of your property's current
market value. It will pay for itself by knowing you are listing your property at a competitive
price in the current market and will therefore have the best chance of attracting a qualified
buyer.
In your home inventory list and/or program, list and document all the major
improvements you have made over the years such as fencing, siding, re-wiring,
roofing, plumbing and paving renovations and additions. Submit a printout of
this list to your real estate agent and/or appraiser.
Having a current property appraisal will also give you an indisputable weapon
when negotiating low ball offers. |
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