Low Appraisal Worries?
When you are selling your home, the winning bidder’s lender will have an appraisal done to make sure the house is worth as much as the loan. If a home is deemed to be worth less than than the offer amount, the sale of your home would be in jeopardy. The banks are loaning the money, so they want to be safe.
Let’s take Albert the Appraiser for example…
He gets an email to go evaluate the value of the home you just put under contract after a massive bidding war. To him, it’s one of three houses he is going to appraise today so he goes online to start finding similar properties for comparison. There are 5 or 6 houses that have sold recently so he records the data on size, rooms and other amenities. He reviews the pictures of each of the properties and picks out the ones he is going to drive by before or after seeing your home. Going inside each of the comparable homes isn’t an option, so Albert has to do his best appraising with only a handful of pictures to consider about each house. Limited information doesn’t inspire much confidence, so he has to be very safe with his appraisal amount.
Listing Pictures Are Ridiculously Good Looking.
If you have shopped for a home lately, you know that the pictures you see online of each house are not very accurate. In person, it’s easy to see that certain pictures were taken from awkward angles to make the home look ahhh-mazing. SO, how does this affect an appraiser? They see a bunch of snazzy pictures combined with a low sales price after many days on the market. The pictures of the home seem to be pretty awesome, but the sales price seems a little low. Wouldn’t that appraiser would be forced to think amazing homes sell for less in this area? And by comparison, this makes your home worth less money.
How do we protect our clients from this?
We bridge this gap by giving appraisers real, high-definition property videos. That gives appraisers a way to “see inside” each home and deliver an accurate value of your home. Each video we take shows the entire home from multiple vantage points, as we showcase the main areas of value. Compared to pictures, our videos closely replicate the experience a person would have if they walked through each home. Appraisers have a VERY TOUGH job as it is, so you can imagine how thankful each is when we help eliminate some of the guesswork out of determining value. It’s a win for the appraiser and an even bigger win for our clients!
Our Clients Get More,
Because We Do More!
The next time you (or anyone you know) has to seek out an expert to help with the sale of their home, please interview us for the job. We proudly do more, so each of our clients can get more. And we would love the opportunity to serve you!
To read more about our home selling services, click here!