Comp One Blog - Your Local Expert!

Don't Sell Your Home Short - Get an Appraisal First!
May 13th, 2024 9:04 AM
If you're considering selling your home to an investor or house flipper, don't just take their estimate at face value. They are looking to get the best deal possible for themselves, not necessarily pay you a fair market price for your home. The only way to truly know what your home is worth is to get an independent, professional appraisal done before entering negotiations.

An appraisal by a licensed appraiser will give you an objective, unbiased valuation of your home based on comparable recent sales in your area, the condition of your home, any upgrades or renovations you've done, the land your home sits on, and other factors. This appraised value is what lenders use to determine how much they are willing to lend on your home. It gives you leverage when selling, whether to an investor or the open market, because you have an expert, third-party opinion of the true market value.

Real estate investors may try to lowball you with their initial offer, hoping you don't know how much your home could really fetch. Or they may use some less-than-scrupulous techniques to try to talk down the value, like pointing out every single flaw and needed repair. With an appraisal in hand, you can counter those tactics and make sure you get paid every penny your home is worth.

There is a cost for an appraisal, but it's a wise investment to avoid potentially leaving tens of thousands on the table. Don't just go with the first number an investor names. Protect yourself and your equity by insisting on an independent appraisal first. That way you can be certain any offer is truly a fair one based on market value, not just a lowball from somebody trying to maximize their own profits.

Contact Comp One Appraisal Services today and put our local expertise to work for you.  Based in the Globe Building at Peachtree Dekalb Airport, we are the perfect resource for attorneys, agents, homeowners, and lenders.  Thanks for reading! 

Got an appraisal issue or question?  Call my Appraiser On-Call For You Hotline at 404-245-7577. 

Posted by Cameron Horne on May 13th, 2024 9:04 AMPost a Comment

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