FSBO or For Sale By Owner
The true market value of your home is what someone else is will to pay for it on the open market. You may list your home with a real estate sales person because he or she said the property is worth more than you thought it was worth. The following month, the sales person says maybe we should lower the price. Many real estate sales people do this to get your listing. The best customers are your first customers, price your home correctly and it will sell fast, don't lose those first customers. If you are planning to sell your home, it might be a wise decision to make a small investment in a professional appraisal. Unless you study real estate values on a day to day basis, like a professional appraiser does, it's difficult for you to get a handle on real estate values. We aren’t talking about how much you have invested in your home, how much you paid for it, or how much you want for it. We’re talking about the true market value of your home, which could really pay off for you in the long run!
I am a Wisconsin Licensed Real Estate Appraiser with 14 years experience in the Sheboygan County area. I am also a licensed REALTOR with ReMax Universal Realty located in Sheboygan Falls, WI. If you list your home with me, I will give you a free appraisal on your home to determine the most accurate list price for a quick sale at the highest price.
One piece of advice that is consistently given by the experts in selling your home FSBO....Do NOT "Overprice" Your Home! It's very hard to be objective about your own home because of your emotional attachment to it. A professional appraiser is objective and will tell you what you need to know, not just what you want to hear.
If you’re working with a real estate agent to list your property, more than likely they’ll provide you with a Comparative Market Analysis (CMA) that lists selected sales in your area as one of the first steps in determining what to set as the “Listing Price". This step is vital if you're going to maximize your profit and minimize the home’s time on the market.
A lender will not finance a transaction with a CMA only an appraisal performed by a Wisconsin Licensed Real Estate Appraiser. If your home is priced too high it may not sell, and even if it does the lender won't finance the transaction. If it is priced too low you are leaving money on the table. In my 14 years experience you won't believe how often this happens.
An appraisal is a very valuable negotiating tool once you have a potential buyer
- Impress buyer’s with written proof of your home’s condition inside and out
- Make you aware of problems and eliminate last-minute repair hassles that might delay a closing
- Decrease the chances of unknown problems that cause sales to fall through
- Eliminate the wait for the buyer or their mortgage company to get the appraisal done on their own
Many people are surprised when they find out that the market value of their home is much more than they thought, so investing in a professional appraisal actually allowed these people to receive several thousand more dollars than they thought they would when their home was sold. Others have an inflated opinion of their home's value and an appraisal helped them to realistically price their home in order for it to sell. An overpriced home will not attract buyers, which means no offers and no closing and that you have wasted valuable time, money, and efforts.