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Real Estate Appraisal: Why You Should Hire A Real Estate Appraiser For Yoakum County, Texas

When you are ready to buy or sell a home, there are many things that you have to do to get ready for the process ahead. One of the most important tasks is to hire a real estate appraiser so that you can have a good idea of the market value of the home in question.

Why Having a Real Estate Appraisal is Important for a Buyer:

  • It gives you greater negotiating power, especially if you think the home is being unfairly priced.
  • It may allow you to have a better mortgage rate.
  • It will prevent you from overspending on a home that is not worth what the price would imply.

How Having a Real Estate Appraisal Benefit the Seller:

  • Will prevent you from setting an unfair price that will prolong the on market time of your home.
  • May be surprising to find out actual market value of your home.

Hiring a real estate appraiser is not a difficult task, but a necessary one. However, do not get confused thinking that the real estate appraisal and a real estate inspection are one and the same. While they may both look at a number of the same things, they are actually different from one another in several ways. One of the major ways that they differ is why they are done. A real estate appraisal is done to assess the market value of the home- what it could be sold for in its current condition and in relation to the surrounding homes. An inspection will decide whether the home is really worth the market value.

Why a Home May be Worth the Market Value:

  • All major systems and structures are sound in the home with few or small repairs or upgrades needed.
  • The surrounding neighborhood is flourishing with all homes in similar condition.
  • The asking price is in line with the market value.

Why a Home May Be Worth More Than the Market Value:

  • The home is a few projects away from the condition of the other homes in the market.
  • Other homes are selling at higher than average prices in the neighborhood.
  • New industry or job opportunities are set to open in the area in the near future.

Why the Home May Not Be Worth It

  • The home is by far the largest or best kept home in the neighborhood.
  • Neighboring houses are being sold for way below their own value.
  • No jobs or major industries to support the area's economy.

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