Pricing your home for sale is one of life’s major financial decisions. What’s too little, what’s too much? When researching selling a house or condo, consumers often anxiously turn to the Internet, neighbors and realtors to come up with a good estimate. But is it the right price?
The National Association of Realtors reports that over 15 percent of home sales are delayed, renegotiated or cancelled due to home appraisals falling short of the contract price. To get the best value from your home, here are tips to look out for.
- Online house estimates can vary widely and are often based on incorrect square footage and lot size.
- Banks approve loans based on an accurate appraisal, not a “guesstimate”.
- Home improvements and updated cosmetics make the difference in what a buyer will pay.
- It’s smart to stage your home; buyers want to see themselves, not you, living there.
To receive the true value for your property, sellers and realtors can get a pre-appraisal before pricing a home. A certified appraiser measures, inspects and studies the local comparable market activity so that sellers get the most accurate price and feel confident to move forward in selling their home.