4 Things You Need to Know About Home Appraisals

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Selling a home? Click here for a FREE Home Price Evaluation 
Call me at (704)996-2613  for a FREE home buying or selling consultation

Most people don’t know much about the home appraisal process. Whether you are buying or selling a home, here are four quick points for you to consider:

1. How does an appraisal work? An appraisal is ordered by the bank and paid for by the buyer. The bank will order the appraisal because they want to know the home is actually worth the amount they are loaning the buyer.

2. Who does the appraisal? The bank orders the appraisal from a third party appraiser. The bank doesn’t want to work with someone who will be more favorable to the buyer or seller; they simply want an unbiased opinion on what the home is actually worth.

3. How does this process affect buyers? As the buyer, you want to make sure that the appraised value matches the amount they are offering for the property. If not, there is a problem. If the appraisal comes back short, you can walk away from the deal. If the appraised value is higher than what you are offering, you may either raise your offer or negotiate with the seller to come down. That can cause a little bit of contention, but that’s for your Realtor and the listing agent to deal with.

4. How does this affect the seller? As a seller, you believe that you have listed your home at the correct price. If there is a short appraisal and the buyer wants to lower their asking price, you have to negotiate with them. If the home appraises higher than you thought, the buyer might walk away if you ask for a higher price. Again, that is for your Realtor to handle. They will negotiate with the buyer’s agent. Maybe you will find a happy medium.

If you have any other questions about appraisals, give me a call or send me an email. I would be happy to help you!

Big O Limo Is More than a Car Service

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation 
Call me at (704)996-2613  for a FREE home buying or selling consultation

My wife and I recently attended a gala in Charlotte, and were in need of a car service to take us to and from the event. We came across Big O Limo, and could not have been happier with the results. It was easy to book the appointment, they arrived early, and the overall experience was wonderful. I wanted to invite Otis and Jeffrey to talk to us a little bit about their business and what they provide to the good people of Carolina.

Big O Limo & Chauffeur Services is a professional, point-to-point transportation service. They are certified (in both North and South Carolina), adamant about being on time, and have a fleet of different vehicles to accommodate their clients’ needs.

Whether you need a classic stretch limo, Hummer limo, party bus, or just a car to the airport, Big O Limo has what you need. They stress professionalism and customer service, and just celebrated five years of being in business.

They have transported important political figures, movie stars, and music legends. However, they treat every customer with the utmost respect, a statement that Otis and Jeffery echo.

To learn more about Big O Limo, visit their website here, where you can find all their social media accounts as well. You can also give them a call at 704-880-2737.

If you have any real estate questions for us, don’t hesitate to reach out. We would love to hear from you!

Does Zillow Really Know How Much Your Home Is Worth?

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation 
Call me at (704)996-2613  for a FREE home buying or selling consultation

If you’re thinking of selling your home, it is important to know how much your property is worth. Can you trust Zillow to give you an accurate home value?

The short answer is no. Zillow’s home values can be grossly overstated by 15% to 30%. Zillow uses a computer-generated algorithm that pulls recent sales in your area in and spits out a value. However, there are many factors in a home’s value that Zillow cannot take into account.

The best way to know your home value is to hire a local real estate agent. We can do a much more thorough analysis of your property. Zillow’s algorithm doesn’t know anything about your neighborhood, school distrcit, or what’s going on in your area like a local real estate agent would.

We can determine if your neighborhood is on the rise or if it’s declining. We know what new industries and businesses come into the area. We can actually see the inside of the home to determine the property’s condition. Sites like Zillow and Trulia cannot do that.

The bottom line is that you want to get the most money for your home. It is your largest asset. Do not trust that computer-generated algorithm. If you want to know what your property is really worth, give me a call or send me an email. I would be happy to help you!