When it comes to selling your home or property, getting an accurate appraisal is a key to getting the best price. This is especially true when it comes to Sandy Springs real estate because home prices are on the rise in this area, and the fair market value for your home could be much different in three to six months than it is today. Underestimating your home value can cause you to sell for less than your home is actually worth, while overestimating it can jeopardize the sale when the lenders have their own appraisal done. The best way to avoid these pitfalls is to make sure you have a good grasp on the value of your property ahead of time. Here are some helpful tips for getting an accurate appraisal for your Sandy Springs real estate.
Have Your Own Appraisal Done Before Listing
A skilled REALTOR® can certainly give you a decent estimate regarding a fair price range for your home, but in a growing market like Sandy Springs, the data can become dated fairly quickly, no matter how informed your agent may be. The best way to get the most current information about the appraised value of your property is to have your own appraisal done before putting the home on the market. It costs a bit more than doing your own research, but a trained appraiser will be able take a careful look at your property and measure its assets against the most up-to-date comparable sales information in your area, giving you a more accurate picture of your home’s value. Keep in mind that the appraisal is only valid as of the date of inspection, so if you wait another two to three months before listing, your appraisal is likely to become dated.
Hire An Appraiser Local To The Area
Home appraisals are not an exact science, nor are they foolproof. The most highly trained home appraiser can get it wrong if he or she is not familiar enough with the neighborhood in which the property sits. (This is an especially critical point in neighborhoods like Sandy Springs where property values are rapidly increasing.) Before hiring any appraiser, always ask if he or she lives or works in the area, or at least make sure the appraiser has plenty of recent experience with appraisals in and around your neighborhood. A local appraiser is more likely to take into account certain factors that someone unfamiliar with the area might miss. Your agent can also provide recommendations to help find an appraiser.
Be Present For The Appraisal
It is always to your advantage to be on hand when the appraiser arrives to look at your property. This enables you to answer any clarifying questions the appraiser might have, or to fill in any gaps in information. It also gives you the chance to point out any benefits or advantages to your home’s location—things that the appraiser might not know about the neighborhood that could have a positive effect on the home’s value.
While following these tips can certainly help you get a more accurate appraisal for your Sandy Springs real estate, it’s also important to remember that the appraiser is bound by regulations to maintain a neutral posture and protect against fraudulent activity, so don’t do or say anything that might be an attempt to “sway” the appraiser to inflate your home’s valuation. For more information on market values in Sandy Springs or other Atlanta neighborhoods, contact Atlanta Fine Homes Sotheby’s International Realty at 404.237.5000.