If you’re thinking about selling your house, then you are probably trying to figure out your selling price. Part of that process is getting an appraisal (or valuation) on your home. If you’re wondering, “Can appraisals affect the selling price on a house in Kalamazoo?” then keep reading…
When selling your house, you’ll be juggling a lot of numbers!
- Asking price – the price you WANT to sell your house for
- The appraisal or valuation – the price that a real estate professional thinks you should try to sell your house for
- Selling price – the price that someone will ultimately pay for your house
Can Appraisals Affect The Selling Price On A House?
An appraisal should probably affect your asking price but it won’t affect the selling the price. Here’s why…
An appraisal is an educated guess. When you want an appraisal, the professional who gives you the appraisal will usually find the number based on what other comparable houses have recently sold for in the area.
They look at several factors (including, but not limited to the number of bedrooms or bathrooms, whether the basement is finished or not, etc.). Of course, it’s just an educated guess based on research, and there are other factors that may influence the price beyond the appraisal.
The appraisal will highlight things you want to be aware of. It will show you what other people are willing to pay for a house and often what they consider to be important factors in the area.
The appraisal will then help you select an asking price that potential buyers seem willing to pay. For example, you might choose an asking price that is higher than the appraisal because your house is a better house, or you might choose an asking price that is lower than the appraisal because your house needs some work.
The Bottom Line
The appraisal is a guide, an educated guess. You should also be aware that the appraisal is not always correct. There are many factors that determine the sale price of a house, and an appraisal is only a starting point.
Are you thinking about selling your house?
Why bother with an appraisal at all? Why bother with showing your house multiple times and waiting months while potential buyers decide whether they want to buy. You can get a fair all-cash offer from us to buy your house fast… or we also have Better Than Cash options as well. You don’t have to worry about getting an appraisal, listing the house, showing your house multiple times, or negotiating. Just pick up the phone and give our team a call at (269) 775-4095 or click here now and enter your information into the form.
