WHAT’S YOUR ESTIMATE?
No one expects you to be able to appraise a home. It's a professional's responsibility to provide an independent estimate of either your home's value, or the value of a home you are interested in purchasing.
While the bank uses the appraisal to guarantee your home's tangible value against the mortgage, such documentation also ensures that you're not overpaying for your home. While your lender usually selects the appraiser, be aware that federal law guarantees you a copy of the report.
When selling your home, a professional appraisal will validate your list price, and assure you that you are getting what your home is worth. It’s a good idea to produce receipts for septic or roof repairs, or work on your heat and air conditioning. This proves your responsibility and pride-of-ownership, adding real and perceived value to your home.
If you're suspicious of an appraisal, ask a realty professional to provide a Competitive Market Analysis based on the most recent closings in your area. Sometimes another opinion is all you need to put your mind at ease.
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Buying or selling a home requires the services of several professionals. Your accountant can explain the tax implications and an attorney researches the title to the property you are purchasing so that you receive a good and marketable title.You may also need a surveyor if your lender requires a physical survey of a property's boundaries. They ensure that you receive title to the exact property for which you contracted.

Realtors also play an important role in your transaction. They act as a marketing agent for sellers, developing strategies to identify and attract likely buyers for the property.

Realtors provide buyers a variety of services: suggesting lenders, researching available homes, scheduling showings, and writing contracts. They oversee the closing activities and coordinate the roles of the other professionals involved.

Real estate agents will not give you legal or accounting advice, nor attempt to survey your property, but they will provide a wide range of services to those planning to buy or sell real estate.

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Early Morning Snow Scene

Madison County Virginia

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Being Reasonable

Rising real estate inventories are presenting buyers with more options and sellers with more competition. If you price a home reasonably, buyers will buy. If buyers make a reasonable offer, sellers will sell. For sellers, pricing is still the biggest factor in a listing's success or failure. Sellers, buyers and real estate agents all stand to lose from an overpriced property.

A buyer’s negotiating skills are critical. Contrary to widespread media reports of sellers panicking under the weight of foreclosure, most sellers are in fact in good enough shape to wait for a fair offer.

Buyers and sellers are still coming together in record numbers that would have been unthinkable just ten years ago. Most home sales are taking place due to traditional reasons: job relocation, growing families, retirement, or downsizing.

Your best insurance for a satisfactory sale or purchase is with the knowledge and skills of a professional representative. If you're unsure about our local market, schedule a cost-free, obligation-free consultation with an agent you know and trust. Then move with confidence!

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