You don’t want the appraised value of your home to come in below the price you’ve negotiated with the buyer, so we have a very specific process for preventing this!
The asking price dillema
Deciding on the asking price is possibly one of the most difficult decisions a seller makes, and getting the full asking price is not always straightforward. Many sellers overestimate what their house is worth and have unrealistic expectations about what buyers will be willing to pay. Just because a seller spent a lot of money on some special custom feature, does not mean that a buyer pay more for it. Improvements might help sell a house but are rarely recouped dollar-for-dollar when the house is sold.
Understanding home appraisals
When your home is under contract with a financing buyer, you usually can’t move forward with the sale until an appraisal is done on your home. A home appraisal is the best way to estimate your property’s fair market value based on the location, condition, and recent sales of similar homes in the surrounding area. It also determines the amount a lender will let the buyer borrow for your property.
The outcome of the appraisal directly affects whether you make it to closing and whether the price in the offer is the price you see on settlement day. A low appraisal can stall a transaction, force a renegotiation, or cause a deal to fall apart entirely.
What can we do to influence the appraisal?
1. Clean your home
The cleaner it is, the more the significant elements of the house will pop out to an appraiser.
2. Make general repairs ahead of time
Do not wait for an appraiser to flag issues that you already know about. If the roof has some leaking issues, make those repairs ahead of time.
3. Document your upgrades
Organize receipts and take photos of any renovations or improvements. New appliances, updated systems, and structural improvements all contribute to value, but only if the appraiser knows about them. Having documentation ready makes it easy to present a complete picture of the home’s progress and condition.
What else can we do?
We go the extra mile to ensure the appraisal comes out at the purchase price or higher by meeting the appraiser at your home and handing them our marketing which includes your notable features. This makes the appraiser’s job much easier because they now have all the information needed for a favorable outcome.
This is not something every agent does. It is the kind of detail that makes a real difference between an appraisal that supports your asking price and one that puts the deal at risk.
With the right preparation, the right asking price, and an agent who actively supports the process, you can approach the appraisal with confidence. These home appraisal tips exist for one reason: to protect your sale price and get you to closing on the terms you negotiated.
If you are preparing to sell and want to talk through how we handle the appraisal process, reach out to us directly and we will walk you through every step.