Worried Your Home Won't Appraise at The Purchase Price? See these HELPFUL Tips.
We ALL want to get the best price for our home when we're planning to sell (or re-financing). Nowadays, even if you think you've priced it right (once your Realtor has presented you with recent comparable solds in your area) and when you get a ready & willing buyer to sign on the dotted line, it doesn't mean the home will appraise. The following tips may help this happen (and they'll help get your home prepared to SHOW to the buyers):
- First of all, PUT ON YOUR BUYER SHOES. Tryand detach emotionally from your house.
- Curb appeal: Let's face it, you have to get the buyers out of their car! When they pull up, you want them to be "WOWd!" You ALSO want the appraiser WOW'd.
- Cut the grass. Plant some colorful flowers. PAINT if needed. Fix cracks in the driveway. De-clutter: pick up the kids trikes and bikes. Just like inside the house, everything should be in its place.
- Inside: Update the carpeting. Nothing is worse than dirty, old shag carpeting. Or, even clean, OLD shag carpeting. New carpeting gives the home that "fresh" look and SMELL.
- CLEAN the house (every room!) by using some elbow grease! Paint if needed. De-clutter. Organize.
- The Garage: Organize. Organize. Organize. If you don't need it, get rid (donate it or trash it) of it. You want the buyer (uh, appraiser) to walk into this garage and see he/she can parked there.
Of course, square footage is a BIG factor, and there's little you can do about that, unless you plan to make additions before you sell. But to work with what you have, think about those tips above. They help sell both the buyer and the appraiser.
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Clear it out. Clean it up.
Kat, you are so right! Sellers need to look at their home as a commodity, and, therefore, detach from the emotional ties to put their home is the best possible light. We could also encourage prospective sellers to spruce up their bathrooms and kitchen before the FOR SALE sign goes in the ground.
Roseann; Absolutely... When I say use some elbow grease, I mean EVERYWHERE! Thanks so much for stopping by.
Kat good advise to those sellers that want to know how they match up - put on your buyer shoes! Even better look at what your competition if offering!
Kat
Outstanding advise, thanks for sharing your thoughts.
Good luck and success.
Lou Ludwig
Kat
All very good tips. I have had a few instances where there was appraisal issues.
Also, have comps from the neighborhood ready to give to the appraiser. They typically appreciate your research and the basis for the listing price. I have closed several recent first time home buyer transactions that appraised because of the initiative of the Realtor.
Lee and Pamela... YES, exactly. That is a great tip also (looking at your composition). THANKS
Lou: Anytime, my friend, anytime.
Tom... we're all having problems with appraisals nowadays. Sigh...
#7; yes, certainly have the comps your Realtor has given you available.
Kat -- lots of great tips here. It is important to do ALL of the things you have suggested. Leave no stone unturned.
Joan: You are right on the money; leave no stone unturned. :-)