Home Appraisals

Do you know what a home appraisal is and why it is important to have one when you're thinking of selling your home?

A home appraisal is key to discovering the value of your home. Regardless of whether you are using a real estate agent to sell your home or taking responsibility for the sale yourself, you need to know what your home is worth to ensure you get the best possible price for it. This is why finding a reputable appraiser to conduct a full appraisal of your home is an important step in the sales process.

The type of fee you will pay for a home appraisal depends on property market conditions. In a strong market, you may find yourself having to pay up to 15 percent of the sale price of your home. In a weaker market, you may find appraisers offering their services for a fixed fee, for example $500. Luckily for home-owners, the home appraisals market is competitive so you need to shop around to find a good deal.

A good appraisal will include a full inspection of your home. This should be carried out on the building structure and fittings and should also take into consideration the value of other homes in your area. You should find a company that you feel confident using and build a good rapport with your appraiser. You can check the reputation of appraisal firms you are interested in working with by contacting the the Appraisal Standards Board, which is a professional body that sets minimum standards for appraisers to meet.

The following section will help you understand how home appraisals work and why they are necessary when you are thinking about selling your property. You will also find out how you can locate a reputable appraiser in your local area.