Often times buyers are afraid to make an offer on a home they really like because the list price is above market value. They think it’s not a “good deal”, even though they like everything about the house. They end up sabotaging themselves because they are worried about what the home will be valued at 6 months from now. Instead of making a reasonable offer backed up by statistical information (and maybe just a little bit of emotion) they reject the property as overpriced.
Buyers should know that almost all sellers are willing to come down in price to the property’s market value. Today’s ” market value” is usually considered the appraised value of the home. This does not include “zestimates” from Zillow or any of the other vaulation models on the internet. A certified appraiser must take into account all upgrades inside and outside the home, whereas the valuation models do not have this information and their estimates can be higher or lower than the actual appraised value of a property. They can be used to determine a price range but not the actual appraised value.
Don’t let a good house pass you by because you are paralyzed by fear and doubt. An appraisal will help you determine if the home is worth the purchase price, especially if you are planning on making this your residence for many years.