If your selling your home in Gwinnett county Georgia you know price are all over the map right now.
So hhow can you know what lending banks will approve for the sale of your home. One great way is to combine your Realtors recommendation with a listing appraisal to ensure the numbers supports your asking price
Some sellers take all types of roads to get to a list price, they may take the advice of a friend,base the price on what you really really hope it will sell for or look at flyer's posted around in the neighborhood, most will not even check the Gwinett county tax assessment reports.? While all of these methods can be helpful, the only true way to know what the lending bank will allow is to get a listing appraisal.
A listing appraisal from is a full appraisal of your property similar to one a buyer would receive on the purchase of your home but with a few distinct advantages:
- You'll have a valuable negotiating tool once you have a potential buyer
- You'll be aware of any problems and eliminate last-minute repair hassles that might delay a closing
- Decrease the chances of unknown problems that cause sales to fall through
- You'll have all the current market data with verified status of all the comparable sales so you can differentiate your property from others on the market
And a listing appraisal gives you an expert opinion, an opinion that is unbiased, from a certified appraiser whos job is to provide customers with accurate property values. Banks and mortgage companies in Georgia always use appraisers to value homes before they approve a loan. Why? Because they want to know what it's worth. And Lenders will not lend more then the apprised value.
So when it's time for you to list and sell your home in Gwinnett County or for that fact any where do your self a service and ask your Realtor to arrange a listing appraisal.
Most sellers do not go to the extend of paying for an appraisal. I do think that they place this burden on the realtor. I do agree that realtors are not appraisers, but a good realtor also has skills to perform a good market evaluation and come very, very close it again. Again, value is an opinion, thus if you ask 10 appraisers, you will get 10 different answers. So, would realtors.
Good job. I enjoyed the post. Thanks for your insights.
Eric for what its worth. Of course a CMA by a realtor is not an appraisal but my CMA's have pretty much been very close to an appraiser's price. So I agree with Loreena that a CMA by a realtor is a necessary step that a lot of sellers dont bother with but should.
I under stand the cost ..and I do agree that a CMA has some value.. but think of the power of a certified home appraisal available to the buyer..
How much more money do you think it could earn a seller
Cost of a good appraisal $350 -$450
Average home price @250,000 ( listed at say 249,900 based on appraisal)
If a bueyr KNEW that the home was worth $249,900 - $259,900
Do you think they would offer at least 1% high with this knowledge then with out ?
1% is equal to $2,500 that would pay for the home appraisal 5 times over.
A better value to you cleint then a home warrenty at the same price
Eric just because a home appraised at a certain value doesnt mean that the market will pay that same price! A seller at closing has to pay for Legal, Septic if needed and whatever other costs are negotiated upon between buyer and seller. It can certainly add up! If there is a buyer mortgage, the bank at closing is going to do an appraisal anyways.
Eric
The media has not created the current market conditions with their continued reporting a bad news. What they are doing is stressing potential customers and created fear. So you to wonder why their readers are down.
Good luck and success
Lou Ludwig