A prelisting appraisal is often nothing like a buyer's mortgage appraisal - far different requirements. Also, a prelisting appraisals does not mean you home is "worth it" nor that it will sell for appraised value. The home is worth what the market says it's worth when listed for sale - http://hankmillerteam.com/whats-my-home-worth/
You would do better to use the appraiser as a consultant during the process - they do things agents cannot - http://hankmillerteam.com/2013/07/26/hire-an-appraiser-as-a-
List the home to sell, use the appraisal as a guide but if you think you're going to push, you will be sitting in there for a long time. You're in Rockmart.
Why would you want to list your home higher than the what the market will support? Unless your Buyer is paying, the Buyer's appraisal will most likely halt the sale.
In the Atlanta market, we are seeing many homes selling for very close to List Price. Some are even coming in a little over than that is the property was aggressively priced. Again, unless your Buyer has the ability to pay the difference you may be seeing your property quickly go back on the market.
Your Listing Agent will review all of the market data with you. If you really want your home to sell, you will follow all of their suggestions. There are some Listing Agent who will not take an overpriced listing. That is because it reflects badly on them from other agents and they know that it is not likely that it will sell.
Rodney Mason, NMLS #151088
Sr Loan Officer
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia with over a decade of mortgage lending experience.
Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203(k) Renovation (Streamline & Consultant) | HomePathÂ® | HomePathÂ® Renovation | HomeStyleÂ® Renovation | VA | USDA | GA Dream | Jumbo Financing.
of listed price YTD. If you are referring to an appraisal done by a certified Appraiser or a CMA, that would give you the most up to date value of your house. If you trust the Real Estate Agent who did the CMA then you should price your house at whatever value that was recommended. If you price too high,
buyers will not be responsive & you will end up not selling your home and will eventually end up lowering the price below the appraised value. If you price the house at the value that was recommended through the CMA, you might get multiple offers which on occasion can push the price up.
Remember though that for someone to attain a mortgage, that there will be a formal appraisal done by the bank appraiser and a loan commitment can only be made if the house appraises for at least the price that the buyer is willing to pay.
Here in Utah, I have found that listing a home at about 6% to 10% higher usually draws interest and can likely bring you the highest offer possible. However, it is different for other markets. You may want to check with a local Realtor.