Should You Have Your Home Appraised Before You List it for Sale?

Published On: April 3, 2022|Categories: Blog, Selling|Tags: , |

Should You Have Your Home Appraised Before You List it for Sale

If you’re thinking about selling your home, you want to know exactly how much it’s worth. That way, you can sell it quickly and at the right price. Most people rely on a real estate agent to tell them how much their home is worth. That’s because real estate agents are very familiar with the local market, and they know what buyers are willing to pay for homes right now. However, some sellers choose to get a home appraisal before even listing their home. Although that’s not always a terrible idea, it’s usually best to avoid the appraisal and rely on a REALTOR® for accurate pricing information. This guide explains.

Should You Have Your Home Appraised Before You List it for Sale?

Real estate appraisals are an important step in the selling process. However, usually it’s a bad idea to have your home appraised before you listed on the market. To understand why, you first need to understand what a home appraisal is and what purpose it serves.

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What is an Appraisal?

A home appraisal is a professional opinion on how much your home is worth. You pay an expert to compare your home to other, similar homes in the same area and then come up with a price. However, you usually want to wait until after a buyer has offered to purchase your home before hiring an appraiser. The appraisal’s main purpose is to tell a lender how much your home is worth so that the lender knows whether it is making a good investment by allowing a borrower to use their money to purchase a home.

For example, if your home appraises at $400,000, but homes like yours are easily selling for $450,000 in the same area, relying on an appraisal to set your home’s price would be a tremendous mistake. You’d lose out on $50,000.

The appraisal doesn’t necessarily tell you what you can sell your home for. In fact, you need to rely on a real estate agent for that. Remember, your home is only worth what a buyer is willing to pay for it. That means regardless of the appraisal value, your home may sell for less or more than what you expect.

Your real estate agent will compare your home to other, similar homes in the same area to help determine what buyers are willing to pay right now. For example, if you have a four-bedroom home with two and a half bathrooms and a swimming pool, your agent will compare your home to other homes that all have the same number of bedrooms and bathrooms, as well as other amenities. Your agent will look at homes that have recently sold, homes that were on the market and never sold, and homes that are currently for sale right now. This helps your agent understand the amount that buyers are willing to pay for homes like yours.

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    What Happens if Your Home Appraises Low?

    If a buyer makes an offer on your home and you later pay for an appraisal, which shows the lender whether they are making a good investment, the appraisal may come back lower then your asking price. If that happens, the buyer may take one of two routes: they may ask you to lower the asking price of the home so they can still borrow the full amount from their lender, or they may choose to walk away from the deal and purchase a different home.

    Attention Investors!!  Don't miss this great opportunity to purchase this fixer upper.  Priced to sell quickly "AS IS" at land value!! Three bedroom, two bath home located in the Inter bay area of South Tampa. Great location off South Dale Mabry with close access to North Gandy Blvd, Lee Roy Selmon Expressway, East-McDill Ave and South-MacDill Air Force Base. Great area with tons of restaurant options, shopping and entertainment.  CASH ONLY. **All offers must be submitted by Monday 6/17 at Noon** $260,000 Active

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    3 Beds 2 Baths 1,144 SqFt 0.150 Acres

    Extensively upgraded and updated 4 bedroom, 2 bath, pool and spa home sitting on an impressive over-sized conservation/wooded corner lot (with conservation located behind the home, on the side, plus view of the conservation/woods across the street) WOW! This exquisite home was remodeled in 2022 offering new roof, new gutters, newer exterior paint w/Sherwin Williams brand, new landscape, remodeled kitchen, microwave and dishwasher, new stainless steel 5 burner gas range with built-in air fryer and convection oven; new thick granite on large island, high breakfast bar and countertops; new double stainless steel sink and Kohler faucet, remodeled kitchen to include new cabinet doors with soft close hinges; crown molding and wine rack, large pantry. New wood-look tile in living and dining rooms; new luxury vinyl flooring in master suite and bedrooms 2 & 3; remodeled bathrooms. Remarcited pool and spa, new variable pool pump, new pool screen. (Pool comes with a removable child safety fence), new smoke detector. Newer gas hot water heater; new tiled entryway and much more. The family room is very bright and airy with triple sliding glass door with transom window leading to the pool area, and comes with a built-in entertainment system to include a gas fireplace. The spacious remodeled master suite has new luxury vinyl flooring, surround sound speakers, a decorative column, high ceiling, as wells as an en-suite bathroom with his and hers sinks, large Jacuzzi brand soaker tub, separate walk-in shower with custom tile and glass block, has a large walk-in closet, and best of all it has a sliding glass door that opens to the pool area.!! The 4th bedroom features oak handrail and oak spindles, a large closet, vaulted ceiling, a large window with view of the conservation and can be used as a flex room. New luxury vinyl flooring in bedrooms 2 & 3. The large laundry room includes washer & dryer. This home offers lots of upgrades and architectural features. Come and enjoy your private oasis in this home located in sought after gated community of The Preserve at West Meadows. West Meadows features resort style amenities that include a clubhouse, gym with fitness room, heated lap pool, pool with a huge water slide and a kiddy pool area, tennis courts, fitness center, playground, basketball courts, walking and jogging trails and dog park. Easy access to I-75, I-275, shopping, restaurants, hospitals, VA hospital, USF, Flaltwood Park (offering running and biking trails), Wiregrass Mall,  Premium Outlets, and top rated schools. Owners are licensed real estate agents (original owners). Schedule your viewing today. $659,000 Active

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    From the moment you drive through the neighborhood gate, you realize what a hidden gem Water’s Edge of Tampa is. With just 36 lots built with Mediterranean themed homes, the appeal of the neighborhood becomes obvious. The curb appeal of the home is just as strong. At the street you find beautiful landscaping, paver driveway, large front yard and an entryway courtyard. Stepping inside you find volume ceilings that open the space along with trimmed walls and archways that bring beauty and uniqueness to your home. The formal living and dining room are perfect to showcase your furniture while entertaining guests. The kitchen/family room combination allows for more relaxed living. The kitchen features granite counters, plenty of cabinetry with pot drawers and storage, beautiful black/stainless steel appliances, pendant lighting, under cabinet lighting and a lot of work space. You have to see the kitchen firsthand to understand its flow and ease of use. The kitchen is combined with a dinette area and a large family room. This is the heart of the home where daily life brings everyone together. During the cooler months, opening the large patio doors onto the supersized lanai is going to be a huge hit for all. It is like doubling your living area. Bring your most comfortable outdoor furniture and enjoy your home even more. The owners’ suite is located in a private wing of the home. It features a large spacious room for plenty of furniture, two walk in closets, access to the lanai, volume tray ceiling decorated with crown molding and an en-suite bathroom. The bathroom features a double-sink vanity, garden tub, glass-enclosed shower and a private water closet. The three secondary bedrooms are near the kitchen. Each bedroom has a walk-in closet and new carpet flooring. The home offers plenty of natural light through the large, energy-saving windows along with many recessed lights throughout the plan. This floor plan works so well! Access to the Veteran’s Expressway as well as Tampa International Airport and downtown is quick and easy. Great shopping, dining and the beaches are minutes away. This neighborhood is centrally located to everything in the Tampa area. Once you visit you will understand why homes in this neighborhood are rarely available for purchase. Call today to schedule your private tour! $899,900 Active

    6948 Silver Sage Circle Tampa, Florida

    4 Beds 3 Baths 2,861 SqFt 0.400 Acres

    Discover luxurious living in this stunning Mediterranean townhome nestled on a serene street, mere steps away from the scenic Bayshore Boulevard. Boasting a 3 bedroom, 2.5 bath layout with a spacious 2-car garage, this residence epitomizes elegance with custom wood cabinetry, sleek granite countertops, and rich bamboo flooring. The first-floor features soaring 9’ ceilings, a 50-bottle wine cooler, and a water softener, enhancing the allure of its opulent amenities.

 

Every window is adorned with bespoke shutters, blending privacy with polished style. Additional upscale touches include a built-in wall safe, and custom LED lighting with dimmers throughout, creating a refined ambiance. The home is tech-ready with 5gb fiber optic internet wiring in the family room and bedrooms and smart thermostat, ensuring ultimate connectivity.

 

Upstairs, the master suite offers an oasis with an ensuite bath featuring high-quality cabinetry and abundant storage. Two additional guest rooms share a well-appointed bathroom. 

 

French doors lead to a serene and private outdoor oasis, an ideal retreat for relaxing or entertaining. This peaceful space is enhanced with dusk-to-dawn lighting, creating a welcoming atmosphere at any hour. 

Enjoy the benefits of low HOA fees at only $88/month and take advantage of the home’s close proximity to Ballast Point Park, Perennial equestrian stables, Tampa Yacht Club, and South Tampa's award-winning restaurants. This townhome is not just a place to live—it’s a gateway to the best of South Tampa living. $800,000 Active

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