Will the home buyer’s appraisals affect the selling price we agreed upon?”..
Appraisals affect the selling price for many different reasons. We all know that once you list it with a Realtor and find a buyer using a conventional loan to purchase the property, getting an appraisal is going to be the standard in lending practice. This is to ensure confidence in the bank being able to justify the amount they’ll loan to the borrower.
Running the numbers on selling a house and how appraisals affect the selling price.
- Determine your asking price for the house.
- Find a buyer that’s willing to pay what you’re asking.
- The appraiser will come in and see if it’s a justifiable number.
Will appraisals affect the selling price of your home in Denver?
There’s a major difference between an estimated value on a house and what it actually sells for. Houses can sell for more or less than expected! That’s why in wondering if appraisals affect the selling price it’s not always a negative statement. You could be in luck as well!
An appraisal is “the act of estimating or judging the nature or value of something or someone.” according the Dictionary.com. The key thing to take away from this definition is that is an estimate. A very intelligent, calculated and strong guesstimate but not a guarantee. Depending on the condition, location and type of house you’re selling it can very easily sell for more than asking price especially if it’s a cash buyer not held to any contingencies.
The appraisal is worth considering on both sides. If you are selling a house in excellent condition you can then justify using the highest estimate value to start as a base for what you’d sell for. If your house is in distress condition you can use the lowest appraisal as a bottom line number for what you’d sell the house for.
Appraisals can act like a science experiment. The appraisal is like a theory for what an outcome will be. The science experiment to prove that theory is testing the waters and letting the public know your house is for sale. This will bring buyers in the test the validity of your estimated home value or “theory”. This is a funny way to put it but it’s exactly how it works out when seeing if appraisals affect the selling price of your Denver house.
What would you like to do?
No reason to worry about thinking if the appraisals affect the selling price when you can contact a local house buying company like Adam Buys Houses Company to get a free consultation and no obligation cash offer. It doesn’t make sense to pay a 6% commission, hold open houses and go through the anxiety of what the appraiser will come up with. Pick up the phone and give us a call directly at 303-997-2045 or click here to fill out the form and start the selling process.
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