A Home Appraisal as a Selling & Marketing Aid
A full real estate appraisal done by a professional may be an essential aid in marketing a property. Before a property is listed, whether For-Sale-By-Owner or through a Realtor, is the best time to get a Market Value appraisal with a listing price analysis. A pre-marketing appraisal can assist in preventing over-pricing or under-pricing a property, thus enabling an owner to obtain their best price.
Once the subject property has been listed, the pre-marketing appraisal may be used to inform prospective purchasers and/or Realtors what the current market value of the subject property is, thus possibly reducing the potential for large scale negotiating. In other words, if an appraisal is made available to prospective purchasers and/or Realtors, the likelihood of receiving a sale at or near the list price is greatly enhanced. Prospective purchasers and/or Realtors will have more confidence in the value of the subject property.
Once a purchase contract has been agreed to, it may be possible to have the appraiser provide a letter of transmittal to the purchaser’s lender so that the purchaser may use the appraisal, thus saving the purchaser time and money in getting his/her mortgage approved.