This is the third article in blog series on home appraisal tips for Northern Virginia home sellers. So far, we’ve covered Part 1 and Part 2.
Home Appraisal Tips for Sellers Who Own Properties in Smaller Subdivisions With Low Turnover Rates
…Perhaps your home is in a subdivision that just hasn’t experienced many recent comparable sales? This is where this task becomes absolutely vital. It’s up to your listing agent to expand their radius of research around your house outward, mile by mile, until they can find somewhat similar properties. The appraiser should really be doing this as well, but if there’s one thing I’ve learned over the years in real estate, you never know what type of appraiser you’re going to get on your real estate contract. So any extra work your agent can do to boost your chances of a good appraisal report, the better.
At the end of the day, one positive aspect of appraisals that are connected to purchases is that the burden of proof is really on the appraiser to prove why the home is not worth the contract sales price. This is different from an independent appraisal, where a buyer hasn’t gone under contract at a certain sales price to purchase the property. There’s a saying among real estate appraisers that the first comparable sale in their analysis is really the property that is being purchased, since there was a ready and willing buyer who offered to the pay the sales price.
I hope you have enjoyed this blog series on home appraisal tips. Are you thinking of selling your home in the next 12 months? Are you wondering what else a stellar Northern Virginia listing agent should do to increase your chances for success in this market? Call me at 703-4622- 0700 or email me at DarrenRobertsonHomes@gmail.com and let’s chat! I pride myself on being completely “no-pressure” and making every effort possible to ensure that you always feel comfortable when interviewing me for the job of selling your home.