Professional “ Appraisers” make it look easy

Professional “ Appraisers” make it look easy.

So you think your house is worth its weight in gold? You know the market is soft. But you say “not your humble abode it has all the bells and whistles.” You put in hours of sweat equity. Although an unfortunate divorce forced a couple on the street to Short Sale… and don’t forget the nice family around the corner who disappeared in the middle of the night and whose three-acre lawn is out of control, because the house is waiting to foreclose...

You may say, “that's not my problem.” You may think it will not affect your home’s chances of selling, and in some ways you might be right.

You’ve checked out Zillow and Trulia for your house value and based the price on those unreliable numbers, you’re pretty sure you know exactly what your home should get on the market. You are so sure of the price your house should get; you begin to think you don’t even need a Realtor. So you find a buyer that believes just like you.that the home was made of gold and off they go to apply for a mortgage. Here is where it gets tricky. Their lender hires an “appraiser “to protect their interest.

You say, “that's EASY. I have already done the work and our numbers should be perfect.” and what you didn’t know is that “ PROFESSIONALS ALWAYS MAKE IT LOOK EASY”
Appraisers are held by standards and have guidelines that must be followed:

Some of the most important guidelines would be area—an appraiser can’t always go outside of an area to get comparisons. They can’t count the “ bedroom” you added to the basement, without windows. The baseboard heater you bought to keep it warm doesn’t exactly make it a bedroom either. Nope they can’t credit you for that.

The appraiser has to use SOLD homes for comparison. And yes, that disappearing family’s foreclosure and that divorcing couple’s short sale won’t really be held against you until AFTER they’re SOLD -BUT—those other homes in the neighborhood that did sell may have started that domino effect long ago.

So after considering so many other factors that you didn’t think of, they have to place a price on your home. A price that we call “ Fair Market Value” and based on that number determines rather or not the bank will agree to finance your buyer. That number just may not match up with what you thought it should be. You might feel insulted. You might even protest at the unfairness of it all. Let me assure you, the appraiser has many hours of work involved in getting it right. The Appraisers been comparing and appraising homes in some cases for decades. The appraisers work can be put under scrutiny and even called into the court of law. The appraisers job is to have the best interest of the value of the property. It’s really easy at times to think you can do the job of a professional appraiser but that’s only because a “Professional Appraiser” makes it look easy!

Candye Hinton