Is A DIY Appraisal A Good Idea?

Jun 22, 2018 | Published by Leave your thoughts

There are a great many online sites that allow you to check out how much homes in your area are worth. This makes it easy for the average person to feel like they can appraise their own home.

While a DIY appraisal may seem like a cost efficient way to do things, there are a great many mistakes that can be made, and this can endanger a home sale.

What are some reasons for researching comp sales on your own?

  • You want to investigate what the current market is like
  • You’re buying a home and want to feel confident that you know the value other homes are going for
  • You want to learn for yourself how the appraisal process works

Investigating the appraisal process is actually a good idea. By becoming knowledgeable, you quell any anxiety that may lead you to believe that someone, especially an appraiser, is not being fair.

Once you see that your prices and the appraiser’s prices are similar, you will know how much your home is worth.

Before you decide to go at it alone:

Researching comp sales in your area only works when the market is stable. When neighborhoods are changing or the housing market is complicated for any variety of factors, you may make a huge mistake and sell your home for way too low.

Professional appraisals should only be done by local appraisers who know the market well. This way, they can help you navigate through a challenging market. They have appraised many homes and know how to analyze the data they receive regarding your home and homes like it very well. This way, you can comp your comparables with you appraiser, ask the right questions and get a fair market price for your home.

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This post was written by Joseph Castaneda

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