If you’re thinking about selling your house then you are probably trying to figure out what your selling price might be. Part of that process is getting an appraisal (or valuation) on your home. So, if you’re wondering, “Can appraisals affect the selling price on a house in San Antonio?” then keep reading…
When selling your house, you’ll be juggling a lot of numbers!
- There’s the asking price – the price you WANT to sell your house for
- There’s the appraisal or valuation – the price that a real estate professional thinks you should try to sell your house for
- There’s the tax appraisal – which is really just the number that the county taxes you based on
- There’s 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 should probably affect your asking price but it won’t affect the selling the price. Here’s why…
An appraisal is an educated guess. When you want an appraisal, the professional who gives you the appraisal will usually find their appraisal value based on what other comparable houses in the area have sold for recently. They will enter some factors into a computer program and it gives them a number.
They’ll look at several factors (including, but not limited to the number of bedrooms or bathrooms, the square footage, the age of the home, etc.). Of course, it’s just an educated guess based on their research, and there are other factors that may influence the price beyond the appraisal.
The appraisal will highlight things you want to be aware of. It will show you what other people have been willing to pay for a house and often what they consider to be important factors in the area.
The appraisal will then help you select an asking price that potential buyers seem willing to pay. For example, you might choose an asking price that is higher than the appraisal because your house is a better house, or you might choose an asking price that is lower than the appraisal because your house needs some work.
The Bottom Line
The appraisal is a guide; an educated guess by 1 professional. But you should also be aware that the appraisal is not always correct. There are many factors that determine the sale price of a house and an appraisal is only a starting point. Therefore, it won’t likely influence the selling price. Anytime a house needs repairs this is going to affect how much someone will be willing to pay.
Are you thinking about selling your house?
Why bother with an appraisal at all? Why spend extra money on an appraisal that isn’t going to impact the sales price? Why bother with showing your house to a bunch of strangers, and waiting months while they decide whether or not they want to buy. You can get a fair all-cash offer from us to buy your house fast… and then you don’t have to worry about getting an appraisal, or listing the house, or showing your house, or negotiating. Just pick up the phone and give our team a call at (210) 201-6644 or click here now and enter your information into the form.