If you’re thinking about selling your house then you are probably trying to figure out how much you can get for your house. Part of the process to come up with a selling price is getting an appraisal (or valuation) on your home. So, if you’re asking, “Can appraisals affect the selling price on a house in McAllen?” … keep on reading this article to find out…
When selling your house, you’ll be dealing with lots of numbers!
- Asking price – that’s the price you WANT to sell your house for
- Appraisal or valuation – the price that a real estate professional thinks you should try to sell your house for
- Selling price – the price that someone will ultimately pay for your house at the closing table
Can Appraisals Affect The Selling Price Of A House?
Here’s comes the answer:
An appraisal should probably affect your asking price but it won’t affect the selling 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 the number based on what other comparable houses in the area have sold for recently, in case they can find the info.
They’ll look at several factors (including, but not limited to the number of bedrooms or bathrooms, if there is a garage or not, one or 2-story, swimming pool, etc.). Of course, it’s just an educated guess based on research, and there are some 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 are 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 more work or updates.
The Bottom Line
The appraisal is a guideline, 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 months while they decide whether or not they want to make an offer, then wait for the lender to approve the credit line, comply with inspections, etc. 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, give us a call or text us at (956) 904 5234 or click here now and enter your information into the form.