Real Estate

Should I get a home appraisal BEFORE selling my home?

You’ve decided to put your Pleasanton CA home up for sale.

You’ve had a couple of real estate agents come by and provide you with your home’s value based on the comparative market analysis (CMA). However, the prices you were given were drastically different from each other. Which one should you choose?

This is a common issue among many home sellers. You know you need to price your home right so it will sell successfully, but no two agent can give you the exact same price.

You’ve probably considered getting a third opinion, maybe from another real estate agent.

Or if you have extra money to spare, you may have thought of getting a home appraisal.

The benefit of home appraisal

An appraisal determines the current market value of your home by sending a professional state licensed appraiser to check your home’s physical properties.

The appraiser compares the sale of several similar real estate properties within a couple of miles from your home. He or she will then make adjustments based on the condition of the home, upgrades made, location etc.

One benefit of getting a home appraisal is you, as the home seller get an assurance of your Pleasanton home for sale’s value.

Another benefit is knowing that the value was given by someone who is an expert and professional and who can back up that value by an appraisal report.

But should you get a home appraisal before listing your home?

I don’t normally suggest getting a home appraisal before listing your home.

Here are my reasons why:

1.Before listing your home, an appraisal is just another opinion of your home’s worth

You can use your money however you want, but don’t think the value will be transferrable to the buyer. The buyer will not use that appraisal because the lender will order another appraisal from their end. The appraisal, therefore, will only be for your use.

2. Appraisals are based on comparables of homes sold. But what if there are no recent sales in your area? The appraiser will then use old sales from last year, sometimes as far back as three or four years to get a good comparison. Sometimes, insufficient data can affect the appraiser’s value, especially since he or she relies heavily on comparables.

You would be better off asking assistance from an experienced real estate agent like me, Rhonda Fee, since I can help determine your home’s worth based on comps and market trend. Also, it is likely that since I may have already visited the home several times that I know more about the updates and changes.

3. Appraisals are subjective to appraisers, therefore, you will always get different value. Like with the two real estate agents, no two appraisers will give you the exact same price.

I can help determine your home in Pleasanton’s value using the CMA and it’s free!

4. Sometimes, you can get so stuck on the appraisal that you don’t want to negotiate because you expect the value from the appraisal.

There have been some occasions that the sellers I am helping refuse to consider a good price from a buyer because they wanted the value from their appraisal. Though you set the home’s price, I hope you’ll remember that it in the end, you’ll have to mutually agree with the buyer when it comes to your home’s value.

Getting an appraisal before listing your home really depends on you. If you have the money to spare, do it for your peace of mind, but also know it is not a necessity.

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