Do You Know Why Real Estate Appraisals Really Matter

When you are talking about selling your home or purchasing a new home, you will most likely have to hear the term, “real estate appraisal” several times. Do you know why real estate appraisals really matter or are you in the dark about how much of a difference it can make for you?

A real estate appraisal is when you have someone come out and view your home. They take all aspects of it into consideration and tell you how much they feel it is worth. If you are buying a home for $100,000 and the appraiser says that it is not worth that much, you may want to look in another direction and get a house that is worth the money you put into it. On the other side of this, someone may have a home for sale at that price, but it is appraised at much higher. In this case, you are getting a great deal, because if you decide to sell it, you stand to make more than the original owners.

It works the same way if you are trying to sell your home. An appraiser can come by and give you a fair starting price for your home, your land, and all things that you plan to include in the sale. They will give you a price that shows its true value and from there, you can determine your asking price. If you choose to go lower than the appraisal value, you may sell your home a lot faster than if you attempt to sell it at the appraisal price or more.

If you have the real estate appraiser come out to you home and it is not valued as high as you want for it to be, you are often able to make minor changes that will increase its value. It may be something as simple as adding fresh paint to your front porch or planting flowers. A home with great curb appeal can also reach a higher appraisal value and allow you to ask a little more.

By having your home appraised before selling it or having a real estate appraisal done on the land that you hope to purchase, you can make a better decision about everything. It can save you from losing money that should have been yours and protect you from making a bad investment when you do not have to.

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