The Value Of Having A Pre Listing Appraisal

by | Oct 10, 2016 | Real Estate

When a homeowner decides to sell their house, they usually meet with a realtor who comes out to look over the property. The realtor usually makes some suggestions, such as sprucing up the landscaping or putting a fresh coat of paint on a room or two. The homeowner is then given a list of comparable sales in the area and left to set a price to go onto the market with. Had the homeowner put the same amount of time and effort into seeking a Pre Listing Appraisal, they would have been armed with solid proof about comparable sales that meet Fannie Mae standards for comparison. This also helps target the most realistic selling price, and can reveal any problems that might pose hurdles to the marketing process. Additionally, it can help figure what the actual living area of the home is.

One such property appraisal firm that can benefit the seller is Spectrum Real Estate Services. The homeowner can receive a pre-appraisal from a certified specialist who can make suggestions about any potential repairs that may be needed, and any improvements that have to be made to increase the value of the home. The benefit for the seller is that they, and their agent, now have an unbiased opinion on the value of the property. It also allows them to foresee how the buyer’s appraiser may react to the home once it gets listed.

Another important reason that sellers should seek a Pre Listing Appraisal is that it evens the playing field. For so long, the norm was that when an appraisal was ordered for the buyer, it was the bank appraiser who acted as both an agent for the bank and the buyer. The seller was left without an advocate. The only appraisal they had to rely on was the bank’s. Now, though, with the benefit of pre-appraisal’s, they can have a more thorough understanding of the market and see exactly where their home is going to fit in. They often learn that they had underestimated the value of their home, allowing them to go to market with a higher price than originally planned. You can also follow them on Twitter for more information.

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