Do Appraisals Matter?

Central Ohio Real Estate Podcast with Susanne Casey

Will getting an appraisal done before you list your home affect its marketability? As is turns out, no. There are a couple of reasons why.

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What are appraisals and how do they affect the marketability of a property?

An appraisal can be done before a home is listed to determine the property’s true market value. However, an appraisal will usually not affect the price the buyer is willing to pay for your house, and there are a few reasons why.

First, as a seller, you’re under no obligation to share the appraisal value with the buyer. Second, buyer demand and opinion determine the price of a house, not the appraiser’s opinion.

Buyer demand and buyer opinion determine the price of a house.

Once a price is negotiated between a buyer and a seller, the buyer will begin the process of obtaining financing, at which point the buyer’s lender will order an appraisal. There are some issues you can run into with the second appraisal, but they are independent of the first one.

If you have any questions about appraisals, or if you have any other real estate-related questions, please feel free to send me an email or give me a call. I’m happy to help.