How to Valuate Your House
Curious just how much your house might be worth? There’s a simple way to find out. Or at the very least, a simple way to get a ballpark estimate of what you can reasonably expect as an asking price for your home.
If you’re planning to sell in the near future, having a general idea of your home’s fair market value will help you determine the best route to take when listing your house. If the value isn’t as high as you’d like, listing with a realtor may not be in your best interest. Why not?
Because when you sell with a realtor, you’ll inevitably pay high realtor commission fees, closing costs, and other transaction fees that can eat up your profits. Selling to a cash home buyer may be your best option if your home isn’t worth as much as you hoped. If you’re looking to sell, call Frank Buys Houses to schedule a walkthrough.
How do you valuate your house to determine the best way to sell it? Read on to learn about multiple different ways you can determine the value of your home.
Get an Offer From a Cash Home Buyer
If you want to sell your house fast, working with a cash home buyer is the fastest way to get the job done. When you request an offer from a cash buyer, the buyer will perform a brief tour of your home to assess the condition, size, layout, and other factors that affect its fair market value. The buyer will also perform extensive research on your neighborhood, its desirability, and the value of other recently sold homes in the area.
Using that information, the buyer will present you with a fair cash offer to purchase your home in as-is condition. Of course, a cash home buyer’s offer reflects the value of your home as-is, which means that value is only valid if you don’t do anything to improve the place. If you upgrade anything or make any necessary repairs, the value of your home will likely increase, so keep that in mind.
Request a Comparative Market Analysis From a Realtor
Lots of realtors offer a comparative market analysis for free as a tool to secure more business. So if you’re interested in learning what your home might be worth, it may be worth requesting this type of analysis from a local realtor with a solid track record.
How does this analysis help you valuate your home? The realtor will pull data on home sales in your area and will also perform a professional evaluation of your property’s characteristics and the desirability of your neighborhood. Using this data, the realtor can effectively estimate what a reasonable asking price for your property will be based on what the real estate market is currently doing.
Use a Free Online Valuation Tool
There are several online tools you can use to quickly and easily estimate the value of your home. All you need to do is enter your address, and the tool will generate a ballpark figure for you. But keep in mind that these types of tools don’t take into consideration any upgrades you’ve made to your property or whether your home may require repairs.
If you just want a preliminary estimate, an online valuation estimator is an excellent tool. However, you’ll still need to factor in other determinants to get a more accurate estimate of your home’s value.
Get a Professional Appraisal
When you list a home with a realtor, a prospective buyer will usually pay for a professional appraisal since their lender will typically require one. But if you don’t have any prospective buyers lined up, you can still get a seller’s appraisal. You’ll just have to pay for it out of pocket.
What will it cost? You can expect to fork over $300–$500 for this service. But keep in mind that if you take this route, you can rest assured you’ll end up with a highly accurate valuation of your home and what you can ultimately list it for.
Need to Sell Your House Fast? We Buy Houses in Any Condition!
If you need to sell your Modesto, Stockton, or Tracy house quickly, don’t hesitate to get in touch with our team at Frank Buys Houses! We buy houses in any condition and will pay you fair market value for your property exactly as it stands. To get an offer or learn more about how we work, feel free to give us a call today at 209-665-3046. We look forward to speaking with you!