Pre-Listing Appraisal Services
If you are working with a real estate agent to list your property, they will likely provide you with a Comparative Market Analysis (CMA) that lists selected sales in your area. This is one of the first steps in determining what to set as the “Listing Price" for your property. This step is vital if you are going to maximize your profit and minimize the home’s time on the market.
But even if you're working with the most experienced real estate agent, it's probably in your best interest to have an "objective" third-party's opinion of value prior to signing a Listing Agreement. And that’s where we come in. We can provide you with a pre-listing appraisal so both you and your agent have an accurate description of your home's features and a detailed analysis of the most recent and similar "comparable sales" or as they're commonly called, "Comps". In addition to helping you set a realistic selling price so your home will attract buyers, a professional appraisal can:
- Be a very valuable negotiating tool once you have a potential buyer
- Impress buyers with written proof of your home’s condition inside and out
- Make you aware of problems or deficiencies with your property that might delay a closing
- Decrease the chances of unknown problems that cause sales to fall through
- Eliminate the wait for the buyer or their mortgage company to get the appraisal done on their own
In some instances people are surprised to find out that the market value of their home is more than they thought, so investing in a professional appraisal actually allowed these people to receive several thousand more dollars than they thought they would when their home was sold. Conversely, especially in a declining marketplace, other people may have an inflated opinion of their home's value and an appraisal helps them to realistically price their home in order for it to sell. An overpriced home will not attract buyers, which means no offers and no closing and that you have wasted valuable time, money, and efforts.
Improvements to add value
In addition to “how much?”, there may be other important questions to ask yourself before listing your home. Questions like: ''Would it be better to paint the entire house before we sell it?”; ''Should I put in that third bathroom?''; or ''Should I complete my kitchen remodel?'' Many things that we do to our houses have an effect on their value. Unfortunately, not all of them have an equal effect. While a kitchen remodel may improve the appeal of a home, it may not add nearly enough to the value to justify you making that additional investment prior to sale.
At O'Neil Appraisal, LLC, we can step in and with an objective professional appraisal, help you make these decisions. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our appraisal fees are based on efforts to properly complete the appraisal report, and not on a percentage of the sales price. Therefore,a professional appraisal can often help you as a homeowner make the best decisions on investing in your home and setting a fair sales price with the best potential for a successful sale.