Can Appraisals Affect The Selling Price On A House In Naperville?

If you’re thinking about selling your house, you are probably trying to figure out what your selling price might be. Part of that process involves getting an appraisal or valuation on your home. So, if you’re wondering, “Can appraisals affect the selling price on a house in Naperville?” then keep reading...

Understanding the Numbers When Selling Your House

When selling your house, you’ll juggle several important numbers:

• Asking price – The price you WANT to sell your house for.

• Appraisal – The price a real estate professional thinks you should aim for.

• Selling price – The price a buyer will ultimately pay for your house.

Do Appraisals Affect the Selling Price?

Here’s the answer:

An appraisal should influence your asking price but won't directly affect the selling price. Here’s why:

An appraisal is essentially an educated guess. When you request an appraisal, the professional will base their number on recent sales of comparable houses in the area.

They’ll consider several factors such as the number of bedrooms, and bathrooms, and whether the basement is finished. Although it’s based on research, other factors may influence the price beyond the appraisal.

The appraisal highlights important aspects you should be aware of. It shows what other people are willing to pay for a house and what factors are important in the area.

The appraisal helps you select an asking price that potential buyers might be willing to pay. For example, you might choose an asking price higher than the appraisal if your house is better or lower if it needs work.

The Bottom Line

The appraisal is a guide; an educated guess. But remember, the appraisal is not always correct. Many factors determine the sale price of a house, and an appraisal is only a starting point. Therefore, it won’t likely influence the final selling price.

Are you thinking about selling your house?

Why bother with an appraisal at all? Why bother showing your house to strangers and waiting for months while they decide whether to buy? You can get a fair all-cash offer from us, Heartland Funding Inc.,  to buy your house fast. This way, you don’t have to worry about getting an appraisal, listing the home, showing your house, or negotiating. Just pick up the phone and give Heartland Funding Inc. a call at (800) 255-8250.