Home Value and Real Estate Appraisals
Pre-Listing, Pre-Purchase, and For Sale by Owner Appraisals
The real estate market is a challenge no matter what end of the process you are on. Realtors, sellers, and buyers alike all have concerns when determining the value of a home, especially with the market changing as drastically as it often does. Sifting through all the available data, considering current market trends, and establish a fair and reasonable price can be difficult for even the most seasoned real estate agent let alone a homeowner looking to sell (FSBO) or buy a home without an agent.
Using an Appraiser to Value Real Estate
When you are listing a home for sale, whether you are using an agent or not, coming up with a pre-listing value can be difficult; the same is true for sellers, pre-purchase. How is a reasonable home value established prior to listing or prior to purchase? The answer is simple, Quiggins Appraisal! In order to understand how we can help it is important to first understand the difference between the three different real estate appraisals.
- Pre-Listing: A pre-listing appraisal is an appraisal that is performed on behalf of the homeowner by a realtor, who is listing a property for sale.
- Pre-Purchase: A pre-purchase appraisal is an appraisal that is performed prior to the buyer putting a bid on or buying a property.
- For Sale by Owner (FSBO): A FSBO appraisal is an appraisal that is done by a homeowner who is looking to sell their home on their own without the assistance of a real estate agent.
Quiggins Appraisal Services provides realtors, sellers, and buyers a professional third-party appraisal on the interested property. Our appraisal of your property is far more accurate than the Comparative Market Analysis (CMA) most realtors provide. A pre-listing appraisal, when done through an independent party such as Quiggins, ensures sellers and buyers have the most accurate description of the home’s features, along with a detailed analysis of recent and comparable sales.
Home Value Appraisals Benefit Everyone
A home value appraisal sets in motion a realistic price point for all parties to consider. A professional appraisal provides the following for relators, sellers, and buyers:
- An effective tool for negotiations with buyers and their agents
- Instills confidence in potential buyers since there is written proof of the value of the home
- Brings light to the obvious home repairs that exist which eliminates last minute repair hassles
- Decreases the chances of the sale falling through due to unforeseen problems
Homes that are priced above their value will attract fewer buyers. When there are fewer buyers looking at a home, there will obviously be a decrease in offers, which wastes time, money and effort. Homes that are underpriced result in a lower selling price and thus leave substantial money on the table that sellers could have profited from.
A pre-listing appraisal helps sellers and realtors determine an actual list price for the property. This will maximize the chance of selling quickly and for top dollar. Quiggins Appraisal Services help determine what improvement would be the most cost effective in adding additional value to the property.
The team of professionals at Quiggins Appraisal Services are led by Andrew Quiggins who offers 20+ years of experience, spanning over 15,000 appraisals to clients throughout Louisville, Kentucky and the surrounding area.