Who Decides What Your Home Is Worth?
Your home is your castle and you ARE royalty when you walk in the door. Just ask your dog, he’ll agree with me! But the day may come when your castle no longer works for you. It’s too big. It’s too small. It’s no longer close to work. You’ll be a little sad to put it on the market but you will and hopefully, at the right price. But what is that?!?
Unfortunately, buyers aren’t willing to pay for all the reasons you think your house is special. They don’t care that your grandparents sat at the table for the first Thanksgiving meal you served there. They are willing to pay for how the house fits their needs AND how it compares to the competition on the market. COMPETITION?!? That’s right. Buyers have options and it’s up to their Realtor/Agent to show them all options that meet their criteria, included in their pre-approved price range.
Once a buyer has chosen your home and you have agreed on a price, there are additional parties that must agree with what the buyer is willing to pay for it. If they’re getting a loan (most are), their lender must agree and the lender is relying on what an appraiser determines your house is worth. It’s not a good ole’ boy world where the buyer or even the lender gets to choose the appraiser and buy him cookies to get the deal done, either. Appraisers are randomly selected from a pool and they have strict guidelines they must adhere to depending on the type loan the buyer is getting.
If it’s time to move, look at your house through a set of eyes that knows what it takes to go from contract to closing with the parties who determine what your home is worth. Don’t rely on a website…it could have you selling your house short or set unrealistic expectations. Price your home to sell by asking me or an experienced Realtor that knows the process. Chances are, we can smoothly transition you from castle to castle!