May 4, 2007, Newsletter Issue #105: Tha Appraisal and the Sale

Tip of the Week

If you are ready to sell your home, you may want to consider getting a professional appraisal. For a few hundred dollars you are securing the knowledge of what you should be selling the house for and securing the back up you need should a Realtor or buyer balk at your asking price.

If you are going with a FSBO (For Sale By Owner) you absolutely need this information at your fingertips. By securing the appraisal and getting a solid selling price for you home, you can also make a better judgement on what you can afford to buy on the other end of your transaction. The size of your downpayment will play heavily into how much home you can purchase. Showing the bank the appraised value of your home will go a long way to securing the pre-approval for the amount you want.

Finally, by getting an independant appraisal of your Miami home or condo, you can also get information about how much the value of your home would increase with added amenities like an additional bathroom, a Jacuzzi tub or new appliances. In some cases the initial investment in items like these can yield signifigant payoffs at the closing table.

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