Why should a seller hire an appraiser?
Whether selling property on a Palm Springs area golf community, a home on the other side of the world in Seville, or Galveston Texas real estate, you'll see the same basic rule: Buyers are going to second-guess your asking price, regardless of how confident you are in the value of your home. That's just the plain truth -- like it or not. For most people, it's the biggest investment of their lives. You can't blame them for being careful.
Buyers can't get much better assurance than an uninterested third party validating the value of your home.
Because real estate involves such serious financial decisions, sellers can boost their home's odds of selling by getting the professional opinion of real estate appraisers. Appraisers are third party real estate experts with no vested interest in the deal. Their job is to provide an impartial estimate of the value, considering the condition and quality, of the home. By getting an appraisal in advance you ensure that you get the higest value possible for your home because of how that appraisal will give the buyer a better feeling about the home's true value.
While evaluating the home, the real estate appraiser judges how sound the construction of the home is, the condition of the total property, and how outdated the home may be compared to other homes that have sold. They research the entire property by making notes and searching public records for the details of other properties, past sales and leases, and any other transactions.
Negotiate with the appraiser in advance for a transfer of the appraisal to the new purchaser.
If used properly, an advance home appraisal is a tangible asset that is part of the home, but it loses its value to the seller as soon as the home is sold. Why not offer that appraisal to the buyer? The borrower would save $250 to $500 (or even more), which, in turn, can help you increase your odds of actually having a meeting of the minds to begin with. In addition to reassuring the purchaser of your home's worth, you can for all practical purposes get some of your appraisal cost reimbursed by simply transferring it to the buyer. In addition to saving the buyer money, you also guarantee that the loan won't fall through because of a different (lower) appraisal, because if the borrower hires their own appraiser, there's a risk of that appraiser won't think the home is worth what they're paying.
For a nominal fee, usually $25 to $50, the appraiser will transfer the appraisal to the buyer. In today's highly competitive real estate market, sellers must use every tool available. This is a nice, inexpensive amenity you can put on the table to show your good faith and cooperative spirit as a seller. It not only raises the purchaser's level of trust in your interaction with him or her, but it could very well improve the numbers on your side of the closing ledger as well.
54-624 Oak Tree
La Quinta, CA 92253
Office: (888) 518-2078 Toll-Free
Fax: (760) 771-1950
Email: info@laquintarealestate.com
