A Pro Appraisal Pays
This content is provided courtesy of USAA.
Selling your house or refinancing your mortgage? Don't underestimate your home's value.
For many of us, a home has the most value of all our possessions. But your home's worth can change with time. If you're not confident about the current, real-market value of your home, it is difficult to make informed financial decisions.
J.J. Montanaro, a CERTIFIED FINANCIAL PLANNER™ practitioner with USAA, says getting a professional appraisal on your home typically costs between $200 and $400, but it's a price that's usually worth paying. Here's why:
Appraisers take the time to thoroughly inspect your house, research sales in your area and review market data. They provide a certified report with a description of your home and the criteria used to determine the value. Many things are taken into account: square footage and lot size, home design and floor plan, construction quality, landscaping, the neighborhood, the view of the home, and the distance to amenities.
Without an appraiser's experienced, "big picture" look at all of these factors, there's a bigger risk of selling yourself short in your sales price. Or, you could price yourself out of the market, and get stuck with continuing mortgage payments on a house that you would prefer to sell. Without an accurate appraisal, you might even have difficulty negotiating the best terms when refinancing your mortgage.
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Certified Financial Planner Board of Standards Inc. owns the certification marks CFP® and Certified Financial Planner™ in the United States, which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.
USAA means United Services Automobile Association and its insurance, banking, investment and other companies. Banks Member FDIC. Investments provided by USAA Investment Management Company and USAA Financial Advisors Inc., both registered broker dealers.