There are different why homeowners may decide to sell their homes. Regardless of the reason, the ultimate goal of all home sellers is to sell their homes at the highest price possible.
However, home sellers want to avoid overpricing their homes to prevent them from staying on the listing market for an extended period without attracting buyers and closing the sale hence the need for pre-listing appraisals.
Here are some of the vital information you need to know about pre-listing appraisals;
What is a pre-listing appraisal?
A pre-listing appraisal estimates the value of a home before the seller lists the house on multiple listing services for sale.
Usually, a professional home appraiser does a pre-listing appraisal and submits a home appraisal report of the home's value based on varying factors, such as the comparable home sales data of recent homes sold.
Is a pre-listing appraisal the same as a buyer's appraisal?
Although they both have similarities, a pre-listing appraisal differs from buyers. A seller carries out a pre-listing appraisal before listing the home for sale. In contrast, a buyer carries out a buyer's assessment after the seller accepts their purchase offer.
How accurate is a pre-listing appraisal?
Typically, pre-listing appraisals provide an estimated value of the home, which is primarily accurate or may have a 2%or 3% median error rate.
Do I need to hire an appraisal company for my pre-listing appraisal?
Hiring an appraisal company to carry out a pre-listing appraisal for your home before you list it for sale is highly beneficial for homeowners. It provides trusted proof of the home's current and fair value, which the seller can defend when they list the house at a price.
However, hiring the right appraisal company with licensed and experienced appraisers to conduct a pre-listing is essential.
Within Anne Arundel and Prince George's County, Montgomery County, Baltimore County, Arlington County, and Washington D.C, we offer clients experienced and professional appraisers who provide the best services.