Princeton Town Topics – Let’s Talk Real Estate – May 30, 2007
APPRAISALS WITHOUT TEARS
A home appraisal is an objective opinion of value conducted by a licensed professional to estimate the worth of a property. Appraisals are usually ordered by the buyer’s lending agency, but can also be requested by a seller who wants to determine a reasonable asking price for the home.
A certified home appraisal helps you get as much from the sale of your home as possible by pricing it based on its actual market value. If the selling price you set is too high, the home will remain on the market, attracting lookers but no serious buyers. If the price is too low, you could be sacrificing some you home equity be selling for less that the house is worth.
Home appraisers evaluate the features and amenities of the property against other homes of comparable size in the neighborhood that have sold during the past several months. A standard appraisal also takes the condition of the home into account. All the factors are tallied and a final opinion of value is given in the form of a certified appraisal.
