If you are entertaining thoughts of potentially selling your property, I'm sure you are quite interested in understanding how much money you will be able to obtain from the sale. Not only will this be critical in helping you plan your next move, but it also might determine whether you wish to go through with a sale at all.

A professional appraisal of the property can be a fairly reasonable way of obtaining a dollar amount, but potential sellers might shy away from this course of action for a number of reasons, which I will address later. If you want to get a quick estimate yourself, your best bet is by comparing your home to other homes which have sold recently in the area. Figuring out exactly what others have been willing to pay for similar properties is the most objective way of guessing what the market value of the home is, and appraisers and real estate agents will often use this method as part of their calculations. Ideally, you could find a house very similar to yours which is very close to yours, which has sold recently. However, this can be difficult. Not only will the two homes need to have similar square footage in order to be directly compared, but things like the number of rooms, (bedrooms, bathrooms, etc), amenities (pools, outbuildings, gazebos), and exterior space must also be similar. Finally, things like the condition of the property (electrical system, roof, plumbing) etc can all drastically affect how much it is worth. If many repairs are needed, the value can plummet. Therefore, if you really want to figure out how much you are likely to get for your property, contacting local real estate professionals is likely your best bet. They will be familiar with other sales in the area, and likely have a great deal of experience when it comes to obtaining realistic estimates of what an appraisal could come out to.

 

Hiring a professional appraiser could net you a realistic appraisal, but could also leave you with problems. If you are not adequately prepared, an appraisal could come in lower than you expect. This might leave lenders or potential buyers wary, and unlikely to offer the price you are hoping for. Additionally, you might end up footing a rather extensive bill, depending on their policy and the services rendered. Either way, if you are considering selling your home, call an experienced real estate professional, and start gathering information.