In order to sell your home, youโll have to have it appraised. Even if your home is very similar to the one up the street, it may have a different valueโand understanding why appraisals come out the way they do can be confusing.
Myths and Facts about Appraisals
Most people donโt have to deal with appraisals very often. There are plenty of myths floating around, so weโd like to help you get ahead of the game by clearing them up.
Appraisal Myth #1: Cleaning your house before the appraisal can help raise the value the appraiser puts on it.
Fact: Appraisers arenโt looking at the dust on your entertainment center or the trashcan you didnโt have time to empty. Theyโre looking at the bigger picture, scanning for chipped paint, torn carpets and appliances that donโt work.
Appraisal Myth #2: If you hire the appraiser, he or she is โon your team.โ
Fact: The appraiserโs duty is to the lender. Yes, the appraisal provides you with the information you need to price your home properlyโbut in the end, itโs the bank that needs to rely on his or her professional opinion.
Appraisal Myth #3: An appraisal is the same thing as a home inspection.
Fact: Itโs not the same. The appraiser figures out how much the house is worth so the lender knows how much money they can afford to lend a buyer, and a home inspector explains the condition of the home to the buyer.
If youโre not sure about what happens during an appraisal, or if youโd like to get more information, call us at (610) 608-3119 or contact us online. We have years of experience selling Main Line homes, and we work with qualified buyers who are actively searching. Weโd love to help you.
Links:
How to Price Your Home
The Home Inspector is Coming