SellingAHome-JenniferChristenot (1)
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what you think the home is worth; but that’s not the smartest<br />
way to go about it. For better or worse, the market has most<br />
likely changed since you purchased your home, making a fair<br />
comparison very difficult. Also, sentimental value can come<br />
into play, placing a bias on any price you determine is fair for<br />
your home. A much better way to price your home is to get an<br />
appraisal, or have a comparative market analysis performed,<br />
which will tell you how much your home is worth based on<br />
location, condition, and market conditions.<br />
Appraisals can be costly, ranging from $450 for a single-family<br />
home and even more for multi-family dwellings. They are<br />
performed by a professional appraiser who knows to look at<br />
things such as location, square footage, water front possibilities,<br />
and amenities including garages, number of rooms,<br />
bathrooms, etc. Appraisals can give you a precise number to<br />
value your property at, and they’re even defendable in court.<br />
A comparative market analysis is similar to an appraisal, but<br />
it’s less formal and not admissible in court. Because they are<br />
not official, real estate agents will often provide clients with a<br />
free comparative market analysis in hopes to gain that client<br />
and eventually, earn them a commission. Even though these<br />
analyses are informal, agents still need to evaluate your home<br />
based on accepted appraisal practices, meaning that they too<br />
will take into consideration the size and style of the home,<br />
location, condition, and what other similar homes are being<br />
sold for on the market. While these analyses don’t provide<br />
SELLING A HOME FAQ’S AND SAQ’S | JENNIFER CHRISTENOT<br />
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