Even in a market with low inventory, it’s important to price your home with the appraised value in mind. Find out why.
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A question that I’m getting a lot when I meet with sellers is, “Why can’t I list my home for more than what you’re suggesting?”
It’s very important to look at all of the information, even in a high-demand market where we have low inventory, and stay within the range of the appraised value of the home.
Sure, we may have a buyer who comes in with cash and is willing to pay more, but the likelihood isn’t as strong as someone coming in with financing. And when a buyer comes in with financing, the lender is going to require an appraisal to be completed. We want to make sure that the property will appraise based on the comparable sales in the area.
I also make it a point to meet the appraiser at the property when the appraisal is going on so I can make sure that they’re aware of any upgrades or remodeling that you’ve done to the property. Additionally, I make sure they have copies of all the comparable sales that I use when I go over the suggested pricing.
It definitely is an important factor to keep in consideration that the property does need to appraise.
If you have any questions about this or other topics, please give me a call or send an email. I’d be glad to help you however I can.