Your house is the most valuable asset you own. So when you come to sell it, you want to get the best price you can so you have more money to put towards your next home or for another purpose.
A property appraisal is a necessary stage in selling your home. It is generally provided as a free service by estate agents and is different to a property valuation that is normally undertaken by a valuer for a set fee and is often required by prospective lenders.
What an Appraisal Involves
An appraisal provides an informed estimate of the value of your property based on the home itself and the sales performance of similar properties in the area. The estimate is provided in a report that also has documentation to support the figure. You will be able to use the estimated value as a basis for setting the selling price of your home.
You can obtain an appraisal from several estate agents to compare their figures. This will also give you an opportunity to compare the way they work in order to select an agent you are comfortable with to sell your home. While dealing with them, therefore, ask questions about their experience, knowledge of the local market, marketing methods and results, and obtain details of references as well as commission rates for selling your property.
The appraisal process is quite simple:
- Book the appraisal at a date and time to suit you, which can often be done online.
- The estate agent will visit as arranged and will conduct a thorough inspection of the property as well as asking questions about it, its condition and any changes you have made. Always be honest and ask your questions at the same time so you can form an opinion about the agent.
- A report with supporting documentation will be provided. This includes an estimate of the value of the property, which will be largely based on property size and style, condition, number of rooms, interior and exterior features, and the area where located.
- Compare the reports and then choose a suitable agent to sell your property. At the same time, decide on the initial asking price, which may be an average of valuations received or be the most appropriate one suggested by the agent you choose.
Getting the Best Price
All agents are trained and experienced so they will gain an accurate view of the property despite any general untidiness or clutter. Nevertheless, it’s best to prepare for their visit by checking for and repairing faults, undertaking a thorough clean and generally making the property look as good as it can do inside and out. If nothing else, this will get you into good habits for potential buyer visits and so will increase the chances of the home selling for the price you want.
You’re also likely to get the best price if you choose carefully the agent to conduct the sale. So get a few appraisals and then select the one you believe is the best.
At LocalAgentFinder, we can give you access to a range of agents who are experienced in property valuations and sales, and have knowledge of the local property market. Using them for the appraisal, you’re likely to get the best possible outcome with a hassle-free process and the sale value you want.