Selling Highlands NC Real Estate, Appraisal Comes Into Play
An appraisal comes into play when selling Highlands NC real estate. While the appraisal is typically completed during the due diligence period, it can affect the sale of a home. As a result, sellers need to understand that pricing a home fairly matters. Your Highlands NC REALTOR will offer advice and data in order to help you price your home to sell.
What is the fair market price?
Ultimately, the price for any home is that which someone is willing to pay. However, a seller must choose a price when he lists a Highlands NC home for sale. A REALTOR will conduct a comparative market analysis (CMA) to suggest what is deemed a fair market price. This analysis will rely on recent sales, current listings, and the condition of a home. When a REALTOR suggests a fair price for a Highlands NC home for sale it is up to the seller to accept it or price it differently.
An appraisal is part of the home loan process. This means that the appraised price and the contracted price of a Highlands NC home should be similar. A mortgage can be in jeopardy when the appraised value comes in at a lower price. No lender wants to lend more than a home is worth. This means that a buyer has two options: to come to the table with more money or walk away from the purchase. For this reason alone, a seller should consider the list price of a home very carefully. Pricing the home too high can easily backfire.
Learn more about selling Highland NC real estate
Contact me, Lynn Kimball, today to learn more about selling Highlands NC homes. I welcome the opportunity to update you on market conditions while sharing a complimentary listing presentation at the same time. Let my knowledge and experience serve as your guide to selling Highlands NC real estate.