In order to sell your home, you’ll have to have it appraised. Even if your home is very similar to the one up the street, it may have a different value—and understanding why appraisals come out the way they do can be confusing.
Myths and Facts about Appraisals
Most people don’t have to deal with appraisals very often. There are plenty of myths floating around, so we’d like to help you get ahead of the game by clearing them up.
Appraisal Myth #1: Cleaning your house before the appraisal can help raise the value the appraiser puts on it.
Fact: Appraisers aren’t looking at the dust on your entertainment center or the trashcan you didn’t have time to empty. They’re looking at the bigger picture, scanning for chipped paint, torn carpets and appliances that don’t work.
Appraisal Myth #2: If you hire the appraiser, he or she is “on your team.”
Fact: The appraiser’s duty is to the lender. Yes, the appraisal provides you with the information you need to price your home properly—but in the end, it’s the bank that needs to rely on his or her professional opinion.
Appraisal Myth #3: An appraisal is the same thing as a home inspection.
Fact: It’s not the same. The appraiser figures out how much the house is worth so the lender knows how much money they can afford to lend a buyer, and a home inspector explains the condition of the home to the buyer.
If you’re not sure about what happens during an appraisal, or if you’d like to get more information, call me at (917) 612-8402or contact me online. I have years of experience selling Madeleine Lightman homes, and i work with qualified buyers who are actively searching. I’d love to help you.
How to Price Your Home
The Home Inspector is Coming