We’re here with part two in our series about home appraisals. Today, we’re discussing how home appraisals affect sellers.
Selling your Iredell County home? Get a free home value report
Buying an Iredell County home? Search all homes for sale
First of all, maybe you aren’t sure what your property is worth and you want to be confident in the value of your home. You want to know what a buyer might be willing to pay for the home in the current market. That way, you can figure out if the numbers make it worth it for you to actually sell.
If you are in an estate settlement, your real estate attorney will likely recommend that you order an appraisal. That way, you can establish a value for tax reasons and a value the heirs can all agree on and everyone is on the same page when it is time to sell the property.
Maybe you are selling your home as a ‘For Sale By Owner’ property and you want to know how much to ask for your home. In that case, an appraisal can be very helpful.
If an appraisal is a year old, it is no longer relevant in today’s market.
However, you should keep in mind that when you sell your home, the buyer is still required to order an appraisal, even if you have already ordered one. The lender will go with the most recent appraisal.
You should also keep in mind that the appraisal tells you what the property is worth the day the appraiser came out to your home. If you ordered an appraisal a year ago, it won’t apply today.
This is another great reason why you want to work with a professional real estate agent. We constantly monitor the market and can help you price your home based on what is happening in real estate right now.
The market can change in an instant. If you have any questions about appraisals or your home value, give us a call or send us an email. We would be happy to help you!
