Why Property Assessments Matter

By Jeff Cheney | On

For anyone who is thinking about selling their home, they surely are banking on an awesome property assessment. A real estate assessment is the dollar value the local government puts on your house and land, which plays an instrumental role in how much you are able to sell your home for. Regardless of what step of the home buying process you are in, a real estate appraiser is important to you and necessary to the home transaction overall. When selling your home, it is only natural to want to take the home and promote how much it is worth. This obviously helps you put it on the market for a higher selling price, which, if all goes as planned, means the seller will actually make some cash once the transaction goes through. On the part of the buyer, the home appraisal helps them know that the price is right and that the home is, in fact, worth what the seller is asking. Furthermore, the lender wants the value of the home to show that the money loaned out is worth it. They Cheney Group offers custom home valuation services that allow those interested in selling their home to know how much their property is truly worth. Using information you provide us with, we will conduct a comparative market analysis and provide you with an appraisal of your home, giving you what you need to make the decision to sell.

For the Seller

If you are considering selling your North Texas home, you will want to find out what the actual value of your property is so that you can make a fair selling price that people will jump on. A real estate assessor will take many factors into consideration with determining the value of your home; including any improvements or renovations you have performed over the years, both inside and out. This is one of the main reasons why curb appeal is important and why all homeowners should consider what kind of value any given project will add to your home. If you happen to have a low valued, you may have the opportunity to change the cost of the home or add additional improvements in order to up the value.

Home Buying - The Cheney GroupFor the Buyer

However, it is important to keep in mind that property assessments are not only important for the seller. As mentioned, the buyer wants to make sure they are getting something of worth and value in their new home, which the appraisal can help with. By getting the home you are potentially buying assessed, you will be able to see what it is considered to be worth. This will give you the information you need to determine whether or not you are getting a good deal and move forward with the transaction. If you believe the home is assessed too low or too high, you may be able to negotiate with the seller for a better price, or for some improvements to be made before you sign on the dotted line.

What Goes into an Appraisal?

Now that we’ve looked at why an appraisal matters to both the buyer and the seller, let’s go over what you will find in the appraisal report:

  • An explanation of how the assessor determined the value of the home
  • The size and condition of the home, as well as a description of any improvements that have been made and the materials that were used
  • Statements regarding any serious structural problems
  • Notes about the surrounding area and neighborhood
  • Market analysis that supports the appraisal
  • Information on recent market trends that may affect the value

Whether you are considering buying or selling a home, it is important to understand the home valuation process. To receive a custom home valuation from The Cheney Group today, simply fill out this form.