Get The Appraisal You Want
Middle Tennessee is a hot market for new jobs and, as a result, people looking to buy new homes. As Nashville and the surrounding neighborhoods continue to grow, the city is increasingly becoming a seller’s market. While buyers may be willing to pay more for a home, at the end of the day, the appraisal can have a big impact on a sale because a lender will only lend to the appraised value. Although there’s no way to fully guarantee a home’s appraisal value, there are steps you can take to make sure your seller’s property appraises at the highest amount possible. Understanding the Appraisal Process First, it helps to understand what goes into an appraisal so you can better explain the process to your clients. This will help them understand the importance of setting a realistic sale price. Once you have a contract in place, the buyer’s lender will begin by contacting a state-licensed or certified appraiser who will then inspect the home. This may be an interior and exterior review or exterior only. Additionally, the appraiser will research county and city records for the property and market, including recent sales and listings of comparable properties. Once they’ve determined [...]
