Buying a home in Boca. When do we need a real estate appraisal?

We got this great question from someone we met recently at a networking function.

We’re going to buy a condo in Boca. When do we need a real estate appraisal? 

Here’s the low-down!

If you are a buyer getting a mortgage, your lender is going to require an appraisal. The lender will order the appraisal.

Either the listing agent, or the buyer’s agent (or both, but at the very least one) needs to meet the appraiser at the property for the appraisal appointment. It’s important that someone knowledgeable be there to answer questions and point out the features.

If the appraiser is open to it, the Realtor can also talk about comps (comparable sales) and help the appraiser understand the current market area. Some appraisers come from out of area, so that last item is rather important.

Based upon the appraisal results, we will help you to know if your offer or your price needs to be changed or adjusted.

If you’re a buyer paying cash, you are not required to have an appraisal, but you can choose to get an appraisal. Why would you want to do that? To protect yourself on the value of the home. Realtors of the All About Florida Homes Team pride ourselves on the fact that we do in-depth competitive market analyses. So you can feel confident that you are getting a good value, and you don’t necessarily need an appraisal – but you’re still welcome to get one. Some of our clients do, and we support that decision.

We work with our cash buyers to help you determine if getting an appraisal is right for you. When the answer is yes, we walk you through each step of the process.

For our sellers, there are times when we recommend doing an appraisal for a listing. Perhaps the homes’s area or market may indicate a lot of variance between recent sold properties. Or, it might be new construction in an area where there isn’t a lot of new construction. In cases such as those, we may recommend an appraisal to avoid surprises. But whether you’re selling or buying, this is a strategic decision, and we would sit down and work together to come up with our plan based on your individual needs and situation.

Questions? Call us – Amy and Noreen, All About Florida Homes, Keller Williams Realty –  at (561) 571-2289. We’d love an opportunity to discuss your home selling or home buying goals.

And, we have some great resources here for you, too! If you’re interested in buying – now or in the future – you can search listings here – and start to familiarize yourself with the buying process and the market.

If selling may be in your future – or you’re just curious about what your home is worth today – you can request a no-obligation home value assessment here. 

Or, contact us at (561) 571-2289 – or via amyandnoreen@allaboutfloridahomes.com – if we can provide you with any additional market data that will help inform your decisions! We are here to help!

How We Can Help with Real Estate Transactions that Involve Probate

How does the All About Florida Homes team tailor our approach when your transaction involves probate?

– We are highly experienced agents and can create a strategy to get the property sold in the shortest time for the highest price using our proven system.

(Note: Amy has 15+ years experience as a title agent – this sets her up with unique skills in handling these types of transactions for our clients.)

– We perform a market analysis and work with the Personal Representative and the Heirs to determine the appropriate list price and strategy: Do you need to dispose of the property quickly? Do you need to maximize the selling price to provide the greatest cash benefit to the heirs?

– We have a database of clients/buyers who are always looking for new properties in Palm Beach County. We also market our listings online for maximum exposure to potential buyers worldwide.

– We personally show the property to potential buyers and/or their agents

– We present the offers and work with the Personal Representative and heirs to negotiate the contract and ensure the process adheres to the court-determined timeline.

Let us know if we can help you – or someone you know.

You can request a no-obligation home value assessment here.

And, to learn more about how probate affects property, check out our Probate Resource page here! 

Why we ALWAYS invest in Pro Photos for Our Listings

Why does the All About Florida Homes Team invest in professional real estate photography?  The answer is simple. We are professional real estate marketers, and we understand how buyers search for homes.

Also, we know that:

90% of buyers start their home searches online. (National Association of Realtors)

Buyers spend 60% of their time looking at listing photos, 20% on the listing description and 20% on the agent description. (The Wall Street Journal)

Homes with professional photos get 61% more views online. (Redfin)

Listings with professional photographs sell 32% faster, spending only 89 days on the market compared to 123 for other homes. (PR Newswire)

According to MLS statistics, properties photographed by drones (aerial images) sold 68% faster. (RIS Media)

 

Now you understand a little about the buyer’s online home shopping experience, and about how pro photos help us sell homes faster and for higher prices. So, would you want a Realtor to use amateur photos to market your home? (Nope!) 

Call us today at (561) 571-2289 if you’d like to learn more about how we will market your home if you list with us!

Or you’re just curious about what your home is worth today – you can request a no-obligation home value assessment here. 

 

VIDEO: IS HOME STAGING IMPORTANT?

Is home staging important when selling a home in Palm Beach County?   Noreen’s answer in this quick video: Sometimes! Not every home needs staging, but if yours does, we will work with you every step of the way. Minimal clutter, less furniture, neutral colors, and few personal items are advisable. The living room, master bedroom, and the kitchen are the key areas that buyers look at. Watch to learn more!

VIDEO: IS A SELLER OBLIGATED TO MAKE REPAIRS?

Buying or selling a home in Delray or Palm Beach County? Our video series helps keep you in the know!

A client submitted this excellent question: Is a seller obligated to make repairs that were discovered during the home inspection? Amy’s answer involves an overview of the types of contracts and the role they play here, and offers advice about the way this plays out in practice.

VIDEO: HOW DO YOU SELECT A REALTOR TO SELL YOUR HOME?

A client asked Noreen and Amy, “How do I choose a Realtor to sell my home?” In this short video, Amy provides some guidance on what to look for and what the dynamic should be like between you and a seller’s agent.

A few highlights:

  • Meet with a potential agent face-to-face so you can get an idea of the chemistry. It’s important. You’ll be spending a lot of time together and there needs to be trust.
  • Choose someone with expertise selling homes in your community, your city, and your neighborhood.
  • Choose someone who clearly will work hard for you and has a plan to market your home… Open houses, follow up calls, relationships with other agents… all of these are good signs.

Watch for the details! (And, to learn more about us – to see if we are a good fit for you – click here!)