A few tips for sellers who are going through the appraisal process.
If you’re looking to sell your home in today’s market, you’re likely to have a lot of competition. With the market favoring sellers, it can be easy to assume that your home will sell quickly and at a high price. However, the appraisal process can present a challenge that can put a wrench in your plans if you’re not prepared. Here’s what you need to know to navigate the appraisal process successfully.
1. Choose an experienced agent. The first step in ensuring that the appraisal process goes smoothly is to find an experienced agent. Your agent should price your home according to the market or market it so well that you can end the process with a pool of buyers who are willing to waive the contingency or bridge the gap of that contingency if needed. An experienced agent can guide you through the process, let you know what to expect, and advise you on where they think the appraisal might stand in the end.
2. Meet the appraiser at the property. While the appraisal is done by an independent third party, your agent can still help ensure that the process goes smoothly. It is crucial that your agent meets the appraiser at the property during the appraisal appointment. This is done to help educate the appraiser on your home’s unique features, upgrades, and anything that might make it stand out from other homes in the area. Your agent can help ensure that the appraiser is aware of everything going on in your particular home.
“By staying involved, you can help ensure that you get the best possible outcome.”
3. Educate the appraiser. When meeting the appraiser at the property, your agent can provide information that might not be readily available to the appraiser. They might know the neighborhood and be able to pull comparable sales, but they may not know the unique features of your home. By educating the appraiser, you can help ensure that they have a complete understanding of your home’s value and that they take everything into account.
4. Stay involved throughout the process. Once the appraisal is complete, it’s essential to stay involved throughout the process. If the appraisal comes back low, your agent can help you navigate your options. They might be able to negotiate with the buyer’s lender to get a higher appraisal or advise you on whether it’s in your best interest to take a lower offer. By staying involved, you can help ensure that you get the best possible outcome.
If you have any questions or concerns about the appraisal process or buying or selling a home in general, reach out to us by phone or email. We’re here to help you through every step of the process.
