Appraisal
An appraisal takes a close look at the home’s qualities, such as location and condition, and eligibility for federal guarantees if applicable. Appraisers are members of the Multiple Listing Service (MLS), like real estate agents, but they must abide by additional guidelines from the bank to minimize the risk to the bank. Appraisers use that same data that Realtors use when creating CMAs. They may adjust value for slow-moving markets or rates of foreclosure, and may look more closely at how long a house has been on the market.
Once the appraisal is completed, the bank can either grant the loan or as the seller to conduct repairs before moving forward. The bank can also decide that requirements have not been met and decline the loan. Lending and appraisal practices have become stricter over the last decade, however with real estate agents preparing CMAs more centered to these standards, most loan applications result in successful closing.
PREPARING TO SHOW
Moving
It is much easier to sell a vacant home; it allows for a flexible showing schedule and less clutter makes the home more appealing. However, we understand that some may not be able to vacate the home before putting it for sale. If this is the case, it is best to store non-essential items off-site to avoid clutter, as well as valuables to decrease risk of them being stolen or lost. Some moving companies can put your belongings in storage until you are able to complete your move.
Staging
Staging sells! Homes that are staged for showing tend to sell sooner for more money. If your house is vacant, a professional stager is able to bring in furniture that best accentuates the layout of your home. However, if you are still in the home while it’s on the market, a stager can help arrange your furniture to help emphasize the spaces in your home.
Depersonalize
Removing family photos and all personal items from is the home is important during showings. It prevents buyers from being distracted during a tour, and it also allows the buyer to view the house as their own future home as opposed to someone else’s home.
Showing & Open House Checklist
10 Minutes to Show Ready
Even when advanced notice is requested, you must always be ready to show your house if you are still living in it. Most buyers would rather tour a home without the owner present, so you should anticipate needing to exit the home when an agent has a showing appointment. While keeping your home relatively clean and depersonalized, keep this checklist on hand to make sure your home is ready to show at a moment’s notice.
