What does an appraiser look for?
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When selling your property, remember that any sale that requires financing will include an professional appraisal ordered by the lender & paid for by the buyer. Even if the transaction is all cash, a prudent buyer will still have an appraisal done to protect his/her interest in the property.
Here is what a professional appraiser will be looking at:
- similar neighborhood
- total square feet of living space
- number of rooms, bedrooms, baths
- sold preferably within 4 months
- sales price within general market price of your home
- sales or financing concessions
- location
- quality of construction
- style of house
- age of house
- condition
- square footage
- property site and view
- functional utility (deficiencies or overbuilt features)
- number of garages
- swimming pool, fireplace(s), remodeled kitchen, kitchen equipment, etc.
- storm windows or replacement window or thermopane windows
- basement i.e. finished, unfinished or none
- deck, patio, porch, etc.
- landscaping
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What does a Realtor look for?
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A Realtor is not an appraiser; however, the professional Realtor looks at some of the same criteria as an appraiser in establishing market value for your property. Of prime importance is the square footage of the house, number of bedrooms & baths, overall condition and location.
A Realtor will study comparable sales in the vicinity with equivalent size and amenities and within a recent timeframe. The resulting range of possible selling prices is based on these variables.
Some owners opt to get a professional appraisal prior to putting their house on the market. It is important to get an unbiased opinion from the appraiser & not try to influence their professional judgement. Doing so makes the appraisal a waste of time & money for the owner. Remember, the lender will get their own appraisal, regardless of yours. |
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What's my house worth?
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| | How does a Realtor help you establish an appropriate asking price for your house? As a professional, a Realtor must study and compare recent sales of houses in the near vicinity, in similar condition & with similar amenities. This includes looking at "sold" data from the local Multiple Listing Service(MLS); a quick walk through the house will also be necessary to gauge presentability and condition such as a potential buyer might see. Then, a Realtor will make a final study of the competition--how other similar houses for sale are priced--to give you a general idea of a realistic price range. Real estate is a matter of time and money. Setting a finely tuned market price will likely result in a sale within a reasonable time, depending on general market conditions. What is your house worth? |
Simply enter your criteria below, and I will provide you with a speedy response. The more information given, the more accurate the evaluation. Please indicate when you are thinking of selling and if you are moving within Galveston or relocating outside Galveston.
Sherry Villere, CRS, GRI
The House Company
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