While appraisals are usually associated with the buyer’s side of a Oceanside home for sale transaction, they offer a useful and potentially headache-saving tool for sellers. A buyer gets an appraisal to confirm to the mortgage company that the home they’re buying is worth the purchase price. However, there are important things you need to know when considering an appraisal before you put your Oceanside home up for sale. Here are a few pointers when it comes to home appraisals for sellers.
Let’s look at what an appraisal is …
It’s an appraisers job to give his “opinion” about the value of your Oceanside home for sale. An appraiser is an independent third party who gives an opinion based only the facts of what homes are selling for in your local area.
Getting an appraisal for your Oceanside home for sale will cost between $300 to 500 dollars. So why would someone selling their Oceanside home pay this extra money? Well it helps the seller determine a fair asking price. It can be nerve-racking to set an initial price. You don’t want to set it too high and scare potential buyers for your Oceanside home for sale off. But you don’t want to set it too low either, because then you won’t get enough profit for your Oceanside home for sale. Getting a neutral, third party opinion, based on fact and the prices that other homes for sale in Oceanside have sold for can lighten the burden.
An appraisal can also let you know about any repair issues you may have in your Oceanside home for sale. It’s good to find out about these issues so you can repair them or negotiate around them. You don’t want your Oceanside home for sale to fall out of escrow because of one of these issues. A pre-listing inspection of your Oceanside home for sale can help you find issues with your home also.
Find a qualified professional to appraise your Oceanside home for sale
So you’ve decided to get an appraisal for your Oceanside home for sale, now how do you go about finding a qualified professional?
1. If you want the appraisal to be accepted by the buyers lender, you must use one of their approved appraisers.
2. Find an appraiser that’s familiar with your local market. They know the Oceanside home for sale in the area and the home that have previously sold.
3. Hire a trained appraiser that has gone through testing and is licensed in your state.