If you’re considering selling your home, then you probably know you need to figure how what you’re selling price should be. A part of the process is receiving an appraisal (valuation) on your house. So, if you are wondering, “Can appraisals affect the selling price on a home in Wichita?” then continue reading this article…
When selling your property, you’ll be juggling a lot of numbers including:
- The asking price – the price you WANT to sell your house for.
- The appraisal or valuation – the price that an agent thinks you should try to sell your house for.
- The selling price – the price that someone will ultimately pay for your house.
Can Appraisals Affect The Selling Price On A House?
Here’s the answer:
An appraisal will most likely affect your original asking price, but it shouldn’t affect the selling price. Here’s why…
An appraisal is an educated guess. When you get an appraisal, the professional doing the appraisal will typically find the number based on other comparable properties in the area and the selling prices.
The professional will look at many different factors (including the number of bedrooms/bathrooms, whether basement is finished or not, etc.). Of course, an appraisal is an educated guess formed by research, and there are several factors that will also influence the price of the property beyond the appraisal.
The appraisal will highlight things you want to be aware of. It shows you what buyers would be willing to pay for a house and what they would consider to be important factors within the area.
The appraisal will help you find a reasonable asking price that potential buyers seem willing to pay. For example, you might end up choosing a higher asking price because the house is a better house, or you might choose a lower asking price than the appraisal because the house may need some work in certain areas.
The Bottom Line
An appraisal is more so a guide, an educated guess. But you should be aware that the appraisal is not always correct. There are so many different factors that determine the selling price of a home and an appraisal is only just a starting point. Therefore, it will not necessarily influence the selling price completely.
Are you thinking about selling your house?
So why bother with an appraisal at all? Why bother showing your property to a lot of strangers and waiting months for them to decide whether they want to buy it or not. You can receive an all-cash offer from us to buy your house fast… and then you won’t have to worry about getting it appraised, or listed, or showing it potential buyers, or negotiate. Just pick up the phone and give us a call at (316) 413-8314 or click here now and enter your information into the form.