Frequently Asked Questions

How can an appraisal report help me when I am listing a property for sale?

Higdem Appraisal provides quality Listing Appraisal service for homeowners and local Realtors.  A listing appraisal can be a powerful tool when working with a real estate agent and also the for-sale-by-owner (FSBO) home seller.   We can provide you with a pre-listing appraisal including:

  • an accurate description of your home’s features
  • detailed analysis of the most recent and similar comparable sales.
  • accurate measurement of the home and any outbuildings
  • making  you aware of problems and eliminate last-minute repair hassles that might delay a closing
  • decreasing the chances of unknown problems that cause sales to fall through
  • delivering a very valuable negotiating tool once you have a potential buyer
  • assisting you and your Realtor with valuing unique or complex properties, including setting  a realistic selling price to increase the chances that your home will attract buyers

 What about selling a property?

Whether you choose to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a better educated decision when determining your selling price.

Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for.  It’s easy for an appraiser to step in and give you, the seller, the information to help you make your decision.  Appraiser fees are charged at a flat rate, based on the completion of the report.  They are not based on a percentage of the sales price. So seeking a professional appraisal can often help homeowners make a smarter decision on investing in their homes.

And selling a property FSBO (for sale by owner)?

More and more homeowners today are choosing to sell their homes FSBO (For Sale by Owner) and are foregoing the help of a real estate agent.  Selling your home by this method can end up saving you a potential “hefty” commission (the local average commission is 6% of the home’s selling price).  Plus, many FSBO sellers feel that they have more control in the process of selling their home since they are in essence, making all the rules.  One piece of advice that is consistently given by the experts in selling your home FSBO:….Do NOT overprice your home.  It’s very difficult to be objective about your own home due to your emotional attachment to it.  This has nothing to do with how much you have invested in your home, how much you paid for it, or how much you want for it.  It is about the true market value of your home.   A professional appraiser is objective and will tell you what you need to know, not just what you want to hear.

 

How can an appraisal report help me when I am purchasing a home?

One of the most important issues involved in purchasing a property is developing an opinion of what it’s worth so that you can make an informed offer to purchase.  A professional appraisal report performed by a qualified, state-licensed appraiser can provide you with an objective, third party opinion of a property’s current Market Value.  And for the small price of this service, you can give yourself  peace of mind prior to making an offer to purchase that you’re offering a fair price for the property.

If the parties want to sell the home, they’ll have a better idea of what price to set.  And on the flipside, if a “buyout” is the chosen option, both parties will feel like they’ve gotten a fair assessment.

We can provide you with a pre-purchase appraisal which includes:

  • an accurate description of the home’s features
  • detailed analysis of the most recent and similar comparable sales.
  • accurate measurement of the home and any outbuildings
  • listing problem to eliminate last-minute repair hassles that might delay a closing or that could cause the sale to fall through
  • a very valuable tool when negotiating with the seller

What should I do to prepare for an appraisal appointment?

 In preparation for your appraisal appointment be sure that all areas of the home are accessible. The appraiser will measure and photograph the house and outbuildings, inside and out; this requires access to all rooms within the home. (If you have a multifamily property please be sure all units are accessible.)  If you have a dog or other animal please be sure to keep them out of the way, in a kennel or dog run while the appraiser is there.  Other items helpful items are:

  • The date of  purchase of the property, and if it was in the last 3 years, the amount      paid.
  • Brag sheet that lists major home improvements and upgrades, the date of their installation and their cost (for example, the addition of central air conditioning or roof repairs) and permit confirmation (if available).
  • Any homeowner association information; fees paid and what is covered by those fees.
  • Copies of any written property agreements, such as a maintenance agreement for a shared driveway or well.
  • For FHA and VA appraisals the appraiser will need access to the attic and any crawl space.