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Prasannavs, Other/Just Looking in Austin, TX

Appraisal before home sale ?

Asked by Prasannavs, Austin, TX Thu Aug 20, 2009

Should i get a apprisal of my home by a independent appraiser before i seel my home ? Is that $400 spendingon apprisal well spent ?

I'm not in a hurry to seel, but thinking to sell soon. Should i put it on the market now or wait for the spring ?

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Answers

9
Getting an appraisal will give you a very accurate value on your home. Although it is not necessary for you to get an appraisal because a Realtor can do a market analysis and give you a price for free. Also the buyer's lender will order an appraisal on the home regardless if you have a previous appraisal or not. Right now is a good time to put your home on the market- as long as the property is in good condition, staged well and priced to beat your competition then you should have no problem in selling. Of course Location, Location, Location is another factor that will affect how fast your home will sell. I would be happy to do a market analysis on your home. Please contact me if you are interested.

Lionel Laday, Realtor
Keller Williams Realty
512-745-0032
Email: LionelLaday@yahoo.com
Website: http://www.findaustintxhomes.com
1 vote Thank Flag Link Thu Aug 20, 2009
Dear Prasannavs,
I would spend the $400 on a pre-inspection instead of an appraisal. Once your under contract the lender will order an appraisal. Also a good Realtor should be able to provide you with comparable homes that have sold recently in your area. This will give you a good idea of what price you should list your home for sale. If I can be of further assistance please give me a call.
Sincerely,
Betina

Betina Foreman Realtor
Keller Williams Realty
1801 S. MOPAC, Suite 100
Austin, TX 78746
512-771-6318
0 votes Thank Flag Link Thu Sep 10, 2009
Prasannavs:
An appraisal is used primarily as a protection for the lender and the buyer to ensure that the property is not overpriced. Using a good realtor is what you should consider. Remember that the realtor will be paid from the procedes of your sale; so a seasoned realtor is no more or no less expensive to you. Get one who knows the market. They will provid you with what the market should be. When the house is sold the new buyer will have to pay for a NEW appraisal anyway.
0 votes Thank Flag Link Tue Aug 25, 2009
Hello Prasannavs. In addition to my earlier answer and to comment on your new post, you sound like you need guidance from a full time professional Realtor that has experience in selling homes in your area. One of the purposes/advantages of having a Realtor on your side is so that you are able to come up with a list price and then a contract price to where your home will sell AND their will not be any issues with the appraisal that is ordered fro the buyer's lender. You have many legitimate fears/concerns, fortunately there are people that sell homes for a living that will help you to understand and overcome these fears and concerns.

http://www.freeaustinmarketreport.com

Richard Cain
512.794.6601
0 votes Thank Flag Link Fri Aug 21, 2009
Thanks for all who responded.

My thought behind getting an appraisal before selling my home is, I've been told that eventhough the home might sell for $360,000 (Pulling up a # from thin air), but these days with lot of short sales around the neighbourhood your home might not get appriased for that value.

Whats the purpose going through all the trouble and then realizing its that being appriased to the buyers price and hence the deal may fall apart ?

Sometime in the same community, you will have pricier homes in 300k range and not so pricier homes in 200k and this bring down the value of the 300k homes since not many are selling in that rang.
0 votes Thank Flag Link Fri Aug 21, 2009
Appraisal value and market value are two completely different numbers. You want to know what the market value is (ie. what a buyer would be willing to pay for your house) and a agent can help you determine market value much better than an Appraiser could.
0 votes Thank Flag Link Thu Aug 20, 2009
Prasannavs,

Good afternoon. If you have a unique home or one that is over $500k, you might consider getting an appraisal done on your home, to get an idea of it's value. However, you can visit us at http://www.BuyersHouseRealty.com and get some recently sold comps of homes in your area for free. Just put in your address and it will give you a break down of some of the recently sold homes, which might help you to determine if it is a good time to list your home.

Keep in mind that BuyersHouseRealty is in the real estate education business and we pay for our buyers education. Lern more>> http://www.BuyersHouseRealty.com

HAPPY HOUSE HUNTING,

Gavin St.Louis
Real Estate Broker/Realtor
BuyersHouseRealty
"Showing You the Real Estate Rebate"
0 votes Thank Flag Link Thu Aug 20, 2009
Hello Prasannavs! There is no need for you to have an appraisal done prior to putting your home on the market. You may be better served by getting a pre-inspection done on your home for about $350 depending on the age of your home. I would be more than happy to explain this to you in further detail. There is truth to the notion of there being more buyers in the spring but who knows where the interest rates or loan programs will be next spring. Homes are still moving quickly and with all of the current incentives being offered, I don't see a slow down in the market until December 2009/January 2010. This is also somewhat of a blanket statement. Real estate is extremely "local" and your neighborhood, the specifics of your home and your life situation would be a better indicator of when the right time to sell would be.

If you would like a FREE Market Snapshot for your neighborhood and/or area, visit the following link:
http://www.freeaustinmarketreport.com/
This will give you an idea as to how the market is performing in your neighborhood.

I wish you the best of luck!

Sincerely,

Richard Cain, Realtor, Owner

Cain and Company - Keller Williams Realty
512.794.6601
0 votes Thank Flag Link Thu Aug 20, 2009
Prasannavs,

Most real estate agents will be happy to help you set the listing price for your home. They use previously sold properties, properties that are currently on the market and their knowledge of the real estate market and your neighborhood.

You can get an appraisal if you want to, but it isn't necessary. Most sellers do not get an appraisal.

You will most likely get a better price and it will easier to sell you home in the spring. It appears the real estate market is improving and will hopefully be better next spring than now. There are more buyers in the spring and early summer since many people wait until the schools are out to move.

I'd be happy to work with you if you aren't already working with a Realtor. Please do not hesitate to contact me if you have any other questions.


Sincerely,

Thomas Griffin
Keller Williams Realty
512-751-3858
realestate@thomas-griffin.com
0 votes Thank Flag Link Thu Aug 20, 2009
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