Appraisals

Your Home's Appraisal

Listing your home at the right price is crucial to its eventual sale, and relying on the knowledge and experience of a Real Living agent will help you determine exactly what that price should be. Your Real Living agent will provide you with a Comparative Market Analysis (CMA) to show you where your home fits in with other, similar homes in your area. Then s/he will help you set a fair price that is in line with its appraisal.

An appraisal (also called a probable sale price) is simply an estimate of your home's market value. It focuses on value (an estimation of the benefits of owning a particular home) and on price (the actual amount of money a buyer will pay).

The buyer typically arranges and pays for the appraisal, but only after you've accepted and negotiated their offer.

When you put your home up for sale, prospective buyers (and the lenders who hold or insure their mortgages) expect that your home is worth your asking price. An appraisal for less than the asking price can complicate, or perhaps block, the sale.

Your Real Living listing agent can provide the appraiser with a record of comparable area homes, including those that are actively listed, expired or sold. This record will complement the appraiser's inspection of your home, the home's improvements and its condition, helping him/her more accurately appraise your home.