Mistake 4: Thinking Your Appraisal Is The Market Value Of Your Home

Posted on Posted in Selling Real Estate

An appraisal is an opinion of value for an entirely different purpose than selling your home. Usually an appraisal is to provide a bank or mortgage institution information to fund a loan. If a lender is motivated to loan you money, his appraisal may come in higher than the true market value of your property. The appraiser might ignore other issues in his analysis, such as foreclosures in the market or distressed sales.

When a buyer looks at a home, they look at all the factors: foreclosures, distressed sales, bankruptcies, divorces, and area fluctuations. Don’t make the mistake of thinking the “appraisal” value of your home is what a diligent buyer would pay.

If you like, I will provide you with ALL of the information you need to make a competent, reliable market value for your home. I’ll research your area, gather specifics on recently sold homes, discuss trends, and answer questions you have about the value of your home with market facts, not opinions.

 

If you have any questions about anything above, don’t hesitate to call or text anytime (801) 691-4150