Selling your (or your client’s) home is a very significant financial transaction. Of course, your aim is to maximize your return on the time and money you've invested in the property.

While mortgage banks typically require an appraisal before buyers can finalize a purchase, sellers have the option to order up an appraisal before listing property for sale. Here's what a pre-listing appraisal involves and why it's prudent to consider one before putting your home on the market:

1. Establish Realistic Expectations: Selling a home is not just a financial transaction; it often carries emotional significance due to the memories created within its walls. An appraisal provides an impartial evaluation of your home's value, helping to temper emotional attachments and make level-headed decisions.
2. Set a Realistic Sale Price: Whether you're working with a real estate agent or selling your home independently, determining the right listing price can be challenging. A pre-listing appraisal offers an unbiased assessment, guiding you towards a competitive listing price.
3. Provide Security in Short Sales: If you're in a rush to sell your home, particularly due to job relocation or family emergencies, a pre-listing appraisal offers assurance. It ensures you're not underselling your property, especially if dealing with companies offering cash purchases.
4. Prioritize Repairs and Updates: Before spending on costly renovations, a pre-listing appraisal helps weigh the potential return on such investment. It provides the information you need to make an informed decision as to whether renovations are necessary to maximize the sale price.
5. Select the Best Real Estate Agent: By obtaining a pre-listing appraisal, you gain insight into which real estate agent offers the most realistic strategy for your property. This helps in making an informed decision when choosing an agent.
6. Avoid Unpleasant Surprises from Mortgage Brokers: A pre-listing appraisal can prevent setbacks during the sale process, such as a low appraisal value affecting mortgage approval. It provides clarity upfront, reducing the risk of unexpected hurdles.

A pre-listing appraisal is a valuable tool while navigating the complexities of selling your home, offering clarity, security, and informed decision-making throughout the process.

Neglia Appraisals has been expertly providing pre-listing appraisals since 1991.  The family-run real estate valuation company is experienced in appraising residential and commercial properties throughout the New York Metropolitan area. Neglia services the New York City Boroughs of Manhattan, Brooklyn, Queens & Staten Island, and draws on a unique and extensive proprietary reference database for these areas. To learn more about Neglia Appraisals and its services, visit https://www.neglia.com or call (718) 331-2122.