The Importance of a Home Appraisal

There are many reasons a home appraisal is important. Whether the time has come to sell your home, you’ve found a property you’re interested in buying, you are entertaining the idea of refinancing, or property taxes have you questioning the value presented to you by the appraisal district, hiring a professional appraiser is very important.

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Why Appraisals Are Needed to Sell Your Home

An appraisal can assist your agent with setting a fair price for the property. Because you have put so much time, money, and effort into making the home feel like home, you may feel your property is worth a lot more than it is. This is normal but also where an appraisal comes in handy. Your appraiser will consider items that impact the value only. A new paint job won’t value as much as, let’s say, a swimming pool. Your agent will also pull comps of homes sold in your neighborhood and compare to the appraiser’s report.

 

Why Buyers Need an Appraisal

You may think it is the seller’s job to obtain an appraisal and in most cases they have obtained their own but you’ll need one as the buyer too. An appraiser will evaluate the property conditions so you can match it side-by-side to the seller’s disclosure to ensure nothing has been missed. That appraisal report can help you avoid major surprises later on, just in case the seller forgot to mention that there are foundation problems or a new roof is needed.

 

Appraisals Are Needed for Every Transaction

An appraisal is necessary in any instance you want to buy or sell. It’s worth the time and money to make sure you aren’t overpaying for a property or not selling it for what it’s worth. There’s never a good time to leave money on the table and an appraisal will help ensure it.

 

Do You Have Questions About Appraisals? 

Give us a call if you need help finding answers to why you need an appraisal. We’re experts in working with appraisers and we even have referrals to some of the best. We’re here to make sure you are protected, an appraisal will help us do that.

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