https://www.gbrprelistingappraisals.com/ – Greater Baton Rouge Home Pre-Listing Appraisals Site Launched
Also, to be on the safer side, it would be a wise decision to have a third-party measure the living area and value of the property before one signs the Listing Agreement. A residential appraiser is the best option in this case.
· When an appraisal report is done in a professional manner, it leaves a good impression on the potential buyer as it supports the price quoted as well.
· An appraisal generally includes photographs, location map, accurate sketch, precise dimensions, outline of the neighborhood etc. Also, 3 to 4 comparable sales must be present adjusted to subject property.
· Enlisting recommendations for repair or enhancements, if any. This listing appraisal can indicate a value for addition(s), items that require repairs, etc..
· Accurate estimation of Living-Area size lends peace of mind, especially with values @ $100/sf +
Consider: A 2,000sf home is for sale, priced at $240,000. Instead of measuring the home, the living area was obtained by County Records; estimating the typical home size in that development. The home is listed with a living area of 2,000sf. A purchase agreement for $240,000 is received and is accepted. The appraisal is ordered by the buyer’s lender. The sellers submit an offer on a $350,000 home in a neighboring development. The offer is accepted. However, the appraiser for the home turns in her appraisal showing 1,840sf and an appraised value of $220,800, much less than the purchase price. The sellers are asked to renegotiate the purchase price as the living area is 1,840sf, and not the 2,000sf. The sellers sue for misrepresentation of living area.
Thus, it’s crucial to have one’s home measured by the person listing your home. It is strongly recommended that when interviewing the person listing your home, one must confirm that they follow ANSI, that they will measure your home, and provide you a calculated sketch. Thus, a written verification of true living area is present.
An appraisal helps homeowners make the best decisions like investment in homes and setting a competent sales price. Thus it is strongly recommended to have a Listing Appraisal before one lists their home.
William D. Cobb, CREA, with Accurate Valuations Group has operated as a home appraiser for 16 years primarily in the Greater Baton Rouge, Louisiana market. For more information on William D. Cobb, CREA and Accurate Valuations Group, visit: http://www.getfastvalue.com . Also, visit William D. Cobb’s Video Blog @ http://prelistingappraisals.info .