How Home Appraisal Affects Sale ?
Sale price of similar homes in a same locality may vary from $10,000 to $20,000 sometimes this could be even more. Now, the reason behind this variance can be attributed to number of home appraisal factors. Let us see how these factors affect the sale.
Motivation Level: Motivation level means how keen the buyer and the seller are to settle the deal. How keen is the seller on selling the property? Is there an urgent need for the seller to sell the property? These are the deciding factors in determining the price. It may happen that a particular seller may like to sell his property because he wants it and another would sell the same because he needs it.
Current Market Trend: The price of the property within the same location may vary from one month to next. This depends largely on the number of properties for sale and also the quality of the homes that are on sale. The number of interested buyers at that particular point of time also decides the price. It is quite common to see that the same property has been sold at different prices in different months.
Location Of The Property: Few exterior factors affect the sale price for example same type of house if located in the main street which lead in and out of a tract would appreciate slowly than a house located not on the main street. The main street is likely to have more traffic and a house in a place with lesser traffic would be of more interest for buyers. Other factors would include sun, ease of access and privacy.
Famous Locality: There are some localities which are famous because of its facilities and other aspects. Houses in these localities would of course cost more than the same type of houses in other localities which are lesser known to people. For example, Beverly Hills which is famous for its exclusive shopping arcade and beautifully designed homes.
Commercial and Industrial Development: A smart buyer would always check the master plan before making a decision. A locality which has upcoming commercial complexes and industrial development would fetch more money than the one which has no developments earmarked.
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