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

There’s a good chance that you’re trying to figure out how much your house might sell for. You will need to get an appraisal (or value) on your home as part of that process. To find out, “Can appraisals affect the selling price of a house in Raleigh?“, keep reading.

When you sell your house, you’ll have to deal with 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 selling price – the price that someone will ultimately pay for your house.

Can Appraisals Affect The Selling Price On A House?

The answer is:

An appraisal should probably change your asking price, but it won’t change the price you get when you sell it. Here’s why…

An appraisal is a smart guess. Usually, the person who gives you an appraisal will figure out how much your house is worth from how much other houses in the area have sold for.

They’ll take a look at a lot of things (including, but not limited to the number of bedrooms or bathrooms, whether the basement is finished or not, etc.). So, of course, it’s just an educated guess based on research. There are other things that could affect the price that isn’t based on the appraisal.

The appraisal will highlight things you want to be aware of. What other people are willing to pay for a house will show you how important the area is to them.

The appraisal will then help you choose a price that people seem willing to pay. In this case, you might set the asking price higher than the appraisal because your house is a better one, or you might set it lower than the appraisal because your house needs some work.

The Bottom Line

The appraisal is a guide; an educated guess. 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.

Are you thinking about selling your house?

Why bother with an appraisal at all? Why bother with showing your house to a bunch of strangers, and waiting a month 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, listing the house, showing your house, or negotiating. Just pick up the phone and give our team a call at 984-689-9785 or click here now and enter your information into the form.

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