Why a Real Estate Appraisal Is Important When You Are Not Using Financing

Real Estate Appraisal

Real Estate Appraisal A real estate appraisal is a very important part of the process of purchasing a home. When you are not financing your home through a bank or mortgage lender and directly buying it from the seller, a home appraisal can act as an eye-opener and deciding factor.

A real estate appraiser has no emotional attachment to the property. He looks at the home from an objective, third party point of view and then prepares his report about the present market value of the home. Given the fact that you get the appraisal done by a certified, state-licensed appraiser, you can trust the legitimacy of the appraisal. When you get to know the genuine value of the home, you need not overpay for it. Thus, a real estate appraisal helps you make a sensible purchase.

A real estate appraisal gives you window to negotiate on the price quoted by the seller. If an appraisal indicates that the quoted price is higher than the actual value, you can ask the seller to come down in their price.

A home appraisal takes into account several relevant things you might skip in the excitement of purchasing a home, such as amenities, age of the home, style of the home, cost of replacements, safety arrangements, and anything else that can change the value of the home. An appraiser takes notice of all these things and mentions them in the final evaluation. If there are any problems, you can ask the seller to make necessary changes before going ahead with the purchase.

The value of a home is influenced by several factors such as location, amenities, recent sale of comparable properties, growth scene and trends in the neighbourhood, and market conditions. A home appraisal considers these factors and informs you about the area at the same. This way, you get to know the present value of the home and the chances of value appreciation in the future.

Purchasing a home is a dream for many people and probably the biggest investment their lifetime. It is meant to provide happiness, comfort, and a peace of mind. A genuine home appraisal helps you make a wise purchase by informing you about the actual worth of the property. The satisfaction that comes from having made the right decision is invaluable. On the other hand, a thoughtless purchase made by overpaying is sure to give you sleepless nights.

 

Contact South Florida Home Inspections Association for reliable real estate inspections and appraisals by our professionally trained and qualified home inspectors and appraisers. Please feel free to call us on 561-818-5593 or read more at sfloridahomeinspection.com/contact-us-2/

 

Resources-

http://bit.ly/1Q0GEoN

http://bit.ly/1PQkozh

http://www.investopedia.com/articles/pf/12/home-appraisals.asp

http://bit.ly/1MTfWtR

Posted by South Florida Home Inspections  |  Comments Off on Why a Real Estate Appraisal Is Important When You Are Not Using Financing  |  in Realtor Tips
  • S. Florida Home Inspection Assoc.
    P.O. Box 32592, Palm Beach Gardens, Florida 33420
    Phone: 561-818-5593 Fax: (772) 325-0204 E-mail: sfloridahome@gmail.com