If you’re thinking about or considering selling your house, one of the biggest decisions is figuring out what your asking price should be. Part of that process is getting an appraisal (or valuation) on your home from a professional appraiser. So, if you’re wondering, “Can appraisals affect the selling price of a house in Weatherford?” then keep reading…
When selling your house, you’ll be juggling a lot of numbers!
- There’s the asking price – the price you WANT to sell your house for
- There’s the appraisal or valuation – the price that a real estate professional thinks you should try to sell your house for
- There’s the selling price – the price that someone will ultimately pay for your house.
Can Appraisals Affect The Selling Price Of A House?
Here’s the answer:
An appraisal should probably affect your asking price, however it probably won’t affect the actual selling price. Here’s why…
An appraisal is an educated guess of a homes value. When you want request an appraisal, the professional who gives you the appraisal will usually determine the number based on what other comparable houses in the area have SOLD for recently.
They’ll look at several factors (including, but not limited to the number of bedrooms and bathrooms, year built, square footage of the home, whether the basement is finished or not, etc.). Of course, it’s just an educated guess based on research, and there are other factors that may influence the price beyond the appraisal.
The appraisal will highlight things you want to be aware of. It will show you what other people are willing to pay for a house and often what they consider to be important factors in the area.
The appraisal will then help you determine an asking price that potential buyers seem willing to pay. For example, you might choose an asking price that is higher than the appraisal because your house is a better house, or you might choose an asking price that is lower than the appraisal because your house needs some repairs or updates.
The Bottom Line
The appraisal is a guide; an educated guess based on a number of factors. But you should also be aware that the appraisal is not always correct. There are many factors that determine the sale price of a house and an appraisal is only a starting point. Therefore, it won’t likely influence the actual selling price and what a potential buyer is willing to pay for the home.
Are you thinking about selling your house?
Why bother with an appraisal at all? Why bother with showing your house to a bunch of strangers, and waiting month while they decide whether or not they want to buy. You can get a fair all-cash offer from us to buy your house fast… and then you don’t have to worry about getting an appraisal, or listing the house, or showing your house, or negotiating. Just pick up the phone and give me a call at (817) 550-5069 Ext# 5000 or click here now and enter your information into this short form to get started.
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