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kathy_ligas

Getting ready to sell my home

6 years ago

I want to sell. How do I find a reputable appraiser to let me what upgrades are necessary for getting the price I want? Do I need to find a real estate agent first

Comments (4)

  • 6 years ago
    last modified: 6 years ago

    Find a real estate agent in a reputable agency who has experience selling property similar to yours. He/she can give advice as to what sells well and what his/her clientele is looking for.

  • 6 years ago

    When you have a real estate agent that you feel comfortable with you might want to ask for a list of home inspectors. If an inspection finds problems especially major ones it will help decide if your upgrades are worth the money or simply a coverup.

  • 6 years ago
    last modified: 6 years ago

    OP, as I understand your question, you are wanting to find out what upgrades you need to do to get the price you ultimately want for the property. Is that right? Or did I misunderstand the question?

    Appraisers can complete an appraisal for you but it will be based on a AS IS basis. They won't tell you that if you do X it will be worth $Y. If you have an addition you are going to add (example) there is an appraisal that can tell you what those plans and specs will be worth once completed but you have to have detailed plans and specs for that type of appraisal.

    OTOH, a Realtor can tell you what features/improvements work in your area. It is regional. For example, in S Florida new roof will get you a higher value at the time of sale as opposed to one that is 20 years old. It's not supposed to be that way because roofs are a maintenance item. However, in our area roofs impact your homeowners insurance and ability to purchase a property. A shingle roof 20 years old or older is nearly impossible to sell in S Fl without substantial discounts - far greater than the cost of a new roof. This may not apply for your area at all.

    There are some features that add value others that don't. A good agent/Realtor in your area will know which features will bring a higher dollar in your neighborhood. Be aware, you don't want to spend so much that you don't get back your costs so in general, spend spruce up money or money that eliminates deficiencies like functional obsolesce rather than high dollar cosmetic items. An example of functional obsolesce is a one bath house in a neighborhood where 2 or more bathrooms are expected. Check with your Realtor. I don't mean to ignore all the cosmetic items because clean and attractive are important components. But don't spend $50k to get an extra $30k in sales price.

    A good Realtor can walk through your home and give you options of what sells and what doesn't sell. With a little additional research they will be able to tell you that the fireplace added $X, the lakefront added $Y and the updated kitchen added $Z all based on the comparison of SOLD properties in the neighborhood with and without X, Y, and Z (twin sales). Twin sales are not always possible to determine but very valuable information.