The last month has been quite busy with sellers getting ready for the spring market. Part of their preparation has included ordering a prelisting appraisal. The feedback I’ve heard each time is they wanted to set a realistic listing price to help the sale go quickly and also avoid appraisal problems once they have their property under contract.
The question I hear every time is “Should I show buyers my prelisting appraisal?” To be honest I’ve always found it difficult to answer the question because there are a number of factors that can occur and it will ultimately depend on your specific situation.
Tom Horn an appraiser from Alabama recently wrote a blog post on this exact question. Tom is well known in the appraisal community and is considered to be one of the top appraisal bloggers in the country. I encourage you to read his blog post where he provides the pros and cons on if you should show buyers your pre-listing appraisal.
“Sharing your appraisal may work for you if you are a no nonsense person and feel that you should list your home for what it is worth and not worry about negotiations. With a recent prelisting appraisal you will have tangible evidence to potential buyers to back up your asking price. You can show them that what you’ve listed it at is what it appraised for and if…”
Did I leave anything out or do you want to join the conversation? Let me know in the comments below.
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