When you are ready to sell your Fleetwood real estate, you want to have all of your facts in order. Knowing everything you can about your property will help you to negotiate the best sale. In addition to comparable sales prices in the area, it can be very helpful to have a home evaluation done. Here are some ways that a home evaluation can help you sell your house faster and at the best price.
What Is an Evaluation?
A home evaluation, or home appraisal, is an estimate of a home’s value conducted by a licensed professional. This person will account for market conditions, comparable sales in the area and all of the features of the property, including upgrades and enhancements. This evaluation will give you a good idea of what you can ask for, when putting your home on the market.
Is it Required?
Legally, an appraisal is not required to sell your home. However, there are many advantages to having an appraisal done. Without an evaluation, you will likely have to search the web for what sale price properties you deem similar to yours have gotten. You may also ask your real estate agent for their opinion.
The problem is that other homes may have sold a year or more ago, and the market may have changed since then. The homes you research may have different features inside. They may have different upgrades and different property issues.
The Savvy Buyer
One of the biggest reasons to have a home evaluation performed is that your potential buyers may do so. Often when the time comes to have a home inspection, the buyer will also bring in an appraiser to conduct an evaluation of the home’s value. This can give your buyer a lot of leverage when negotiating the price.
In short, not having your own evaluation done can put you at a disadvantage in getting the best price for your home. At very least, having an appraisal can help you avoid unpleasant surprises once the home goes on the market.
The Lender Factor
Some mortgage companies, banks and other lenders will demand an evaluation before approving a mortgage. In some cases, the lender will even want to use their own approved appraiser. Normally, the buyer will pay for this appraisal and it can happen after the offer is made. If you have your own evaluation done, you may be able to challenge the findings of another evaluator if the determined value is less than what you feel it should be.
In any case, it is a smart idea to have an evaluation on hand to help your potential buyer when the time comes to negotiate price. Indeed, if the issue of the lender demanding an evaluation arises, your potential buyer could see it as a perk if you can instantly offer one up.
If you would like to have an evaluation done for your Fleetwood home, take a look at our home evaluation contact form to get started today.