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2021-05-05 By Admin
Home appraisal prep. It’s something you might not think is necessary. But, when you’re trying to sell a house for top dollar, you need to do this right. If you want to get the most out of the sale, you’ll need to whip it into shape. After all, you don’t want to get in a position where you need to request a rebuttal. So, read on to learn more about home appraisal prep and what you need to know.
The most important thing to know about a home appraisal is that this report can easily kill the deal. If the home comes in under the agreed selling price, it creates a bad scenario. After all, the lender will see the property just isn’t worth the agreed selling price. Which means the buyer will have to come up with the difference or get the seller to lower the price to equal the appraised value.
Don’t let a bad appraisal mess up your deal. This might happen if the prospective buyer of your home is seeking a conforming loan backed by Fannie Mae or Freddie Mac. Some appraisers used for these loans have been hired on the cheap and may lack the education, experience and time to do a good job — basically, to verify that your home’s sale price is supported by its market value. A poorly done appraisal that says your home is worth less than it really is can stop a loan from being approved. --Kiplinger.com
However, if the appraiser determines the home is worth more than the agreed selling price, the seller will certainly look for a way out. With these two possibilities in-mind, it’s easy to understand just how important the appraised value is to the viability of the transaction.
Since the appraisal plays such a huge role in the deal, you as the seller need to make the best impression possible on the appraiser. Here are some helpful suggestions for how to do home appraisal prep to boost the value:
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