Friday, February 22, 2019

What Is A Home Appraisal?

A home appraisal is an important aspect of the home selling and buying process. But are you familiar with what a home appraisal is and why it's important?

What is a home appraisal?
A home appraisal is an honest and unbiased cost analysis of your home. The home appraisal is ordered by your buyer’s mortgage company and will be executed by a trained professional appraiser. A home appraiser will evaluate your home based on certain criteria. Criteria can include your home’s condition, square footage, lot size, and location. Appraisers will also look at the recent sales in your neighborhood.

Why are home appraisals important?
If the appraiser does not value your home at the amount requested in the mortgage, it can cause a problem for both the buyer and the seller. That’s why listing your home at the right price can be important.

How Do I Know What My Home is Worth?
Home value estimate tools are a great way to begin to understand how much your home is worth. HUNT Real Estate’s Home Value Tool offers 3 different home value estimates. We’ll even share profiles of potential buyers for your home. The best part is this service is completely free.

Your real estate sales professional will be able to guide you through the sale of your home, including what your home should be priced at. They will have the tools and resources to price your home correctly for the market. Reach out to a HUNT Real Estate sales professional today to see how we can help you get your home sold.