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How To Find The (most accurate) Value of My PropertyFinding the most accurate property value is a very important key in selling your real estate. Have you ever noticed people putting their house up for sale because they heard that a neighbor sold their house down the street for a surprising amount? Then they wonder why their house isn't selling? "The Jones' house sold quickly, I don't know why mine won't sell." The truth is their house most likely is not worth what they are asking. There are so many things that factor into the value of a house that it would be almost impossible to put a value on your own home unless you just bought it or you are a professional trained with that expertise. Why Would I Want A Professional Valuation?If you put a value on your house based on what your neighbor thinks or what he sold his home for, you could be in for a long wait to sell or even worse not be able to sell.Let us explain. First of all, if conventional lenders (banks) are involved in the sell of your house, they require a professional appraisal. Now you need to understand that many times there is a value range that your property's value is based on. If you (the seller) have the appraisal done, the value tends to be at the higher end. If you wait until the house is being sold and the buyer has to pay for the appraisal, sometimes it tends to be at the lower end of the range. It seems that this is determined by the reason for the appraisal and who is having it done, so please take this into consideration. Second, if you do seller financing and ever decide to sell the mortgage to a third party institution, you will need to verify that the property was sold at it's appraised value. And finally, you don't want to leave money on the table. It is possible that your house is worth more than you think. Maybe it has characteristics that add value or has appreciated more than you thought. 3 Ways To Get A Professional ValuationThere are basically 3 ways to get a professional valuation.1. Appraisal 2. Realtor's CMA 3. Marshall Swift AppraisalAn appraisal is done by a professional that is trained. They may be only forming an opinion, but it is an educated opinion. Lending institutions and other professionals you deal with will take their word as gold. How Do I Get The Most Out Of My Appraisal?
12 ways to ensure your appraisal goes smoothly
Realtor's CMAThe Realtor's CMA is a comparative market analysis. Realtor's have access to the multiple listing service (MLS) and can research what properties like yours in your area have sold for and what they are selling for now.Marshall & SwiftMarshall & Swift is a great resource for appraisal information. It is used for replacement value assessment. This can be used to support your appraisal or even to help the appraiser to do his job. Many times CMA's are not available because of location or other circumstances.How Do I Use Marshall & Swift?
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