Understanding Home Appraisals: A Guide for Columbus Sellers

If you are planning to sell your house in Columbus, Ohio, you may have heard of the term “home appraisal”. A home appraisal is an unbiased estimate of the market value of your house, based on its condition, features, location, and comparable sales. A home appraisal is usually required by lenders when you are applying for a mortgage loan, refinancing, or selling your house to a buyer who needs financing.

But what exactly is a home appraisal, how does it work, and how does it affect your home selling process? In this guide, we will answer these questions and more, and help you understand the role and importance of home appraisals in Columbus. We will also show you how you can sell your house without an appraisal, by working with Double Eagle Property Solutions, a local company that buys houses in any condition and situation for cash.

What is a Home Appraisal and Why is it Important?

A home appraisal is a professional opinion of the market value of your house, based on a thorough inspection and analysis of your property and the surrounding area. A home appraisal is performed by a licensed and certified appraiser, who follows the standards and guidelines of the Uniform Standards of Professional Appraisal Practice (USPAP)¹.

A home appraisal is important for several reasons:

• It protects the lender from lending more money than the house is worth, and reduces the risk of default and foreclosure.
• It protects the buyer from paying more than the house is worth, and ensures that they are getting a fair deal.
• It protects the seller from selling the house for less than the market value, and maximizes their profit.

A home appraisal typically costs between $300 and $500, depending on the size, type, and location of the house². The cost of the appraisal is usually paid by the buyer or the seller, depending on the terms of the contract. The appraisal report is usually delivered within a week after the inspection.

How Does a Home Appraisal Work?

A home appraisal consists of two main steps: the inspection and the analysis.

The inspection is the physical examination of the house by the appraiser, who will measure the dimensions, check the condition, and note the features and upgrades of the house. The appraiser will also take photos and notes of the exterior and interior of the house, as well as the neighborhood and the street.

The analysis is the comparison and evaluation of the house with similar houses that have recently sold or are currently for sale in the same area. These houses are called comparables or comps, and they are used to adjust the value of the house based on the differences in size, condition, features, and location. The appraiser will also consider other factors that may affect the value of the house, such as the market trends, the supply and demand, and the economic conditions.

The appraiser will then write a detailed report that summarizes the findings and conclusions of the inspection and the analysis, and provides an opinion of the market value of the house. The report will also include the description, photos, and maps of the house and the comps, as well as the calculations and adjustments used to determine the value.

How Does a Home Appraisal Affect Your Home Selling Process?

A home appraisal can have a significant impact on your home selling process, especially if you are selling your house to a buyer who needs financing. Here are some of the ways a home appraisal can affect your home sale:

• It can confirm or challenge your asking price. If the appraisal value is higher than your asking price, it can validate your pricing strategy and give you more confidence and leverage in the negotiation. If the appraisal value is lower than your asking price, it can challenge your pricing strategy and force you to lower your price or justify the difference.
• It can make or break the deal. If the appraisal value is equal to or higher than the agreed-upon sale price, the deal can proceed smoothly and the lender can approve the loan. If the appraisal value is lower than the agreed-upon sale price, the deal can be jeopardized and the lender can reject the loan. In this case, you have three options: you can lower your price to match the appraisal value, you can ask the buyer to pay the difference in cash, or you can challenge the appraisal and request a second opinion.
• It can delay or extend the closing. If the appraisal value is lower than the agreed-upon sale price, the closing can be delayed or extended until the issue is resolved. This can cause frustration and uncertainty for both parties, and increase the risk of the deal falling through.

How Can You Sell Your House Without an Appraisal?

As you can see, a home appraisal can be a stressful and unpredictable part of your home selling process. It can cost you time and money, and it can affect your sale price and your closing date. If you want to avoid the hassle and uncertainty of a home appraisal, you can sell your house without an appraisal, by working with Double Eagle Property Solutions.

Double Eagle Property Solutions is a local company that buys houses in any condition and situation for cash. They will make you a fair cash offer within 24 hours, and close the deal in as little as 10 days. You don’t have to worry about repairs, fees, commissions, or contingencies. You can sell your house as-is and get rid of your problem property in no time.

Here are some of the benefits of selling your house to Double Eagle Property Solutions:

• You don’t need an appraisal. Double Eagle Property Solutions will buy your house based on its current market value and the cost of repairs. They will not rely on a third-party appraiser or lender to determine the value of your house. They will use their own experience and knowledge of the Columbus market to make you a fair and honest offer.
• You don’t need a loan. Double Eagle Property Solutions will pay you in cash, so you don’t have to worry about the buyer’s financing or approval. You don’t have to deal with the bank, the paperwork, or the waiting. You can get your cash quickly and easily, and move on with your life.
• You don’t need to fix anything. Double Eagle Property Solutions will buy your house in any condition, whether it’s dirty, cluttered, outdated, or damaged. You don’t have to spend any money or time on repairs, cleaning, or staging. You can sell your house as-is and save yourself the hassle and expense of preparing your house for sale.
• You don’t need to pay anything. Double Eagle Property Solutions will cover all the closing costs and fees, so you don’t have to pay anything out of pocket. You don’t have to pay any commissions to agents, any taxes to the government, or any hidden charges to anyone. You can keep all the money from the sale and walk away with more cash in your pocket.

Final Thoughts: Sell Your House Without an Appraisal in Columbus

A home appraisal is an important part of the home selling process, but it can also be a stressful and unpredictable one. It can affect your sale price, your closing date, and your overall satisfaction. If you want to avoid the hassle and uncertainty of a home appraisal, you can sell your house without an appraisal, by working with Double Eagle Property Solutions.

Double Eagle Property Solutions is a local company that buys houses in any condition and situation for cash. They will make you a fair cash offer within 24 hours, and close the deal in as little as 10 days. You don’t have to worry about repairs, fees, commissions, or contingencies. You can sell your house as-is and get rid of your problem property in no time.

If you are interested in selling your house without an appraisal in Columbus, Ohio, or if you have any questions or comments, please feel free to contact us today. We would love to hear from you and help you achieve your real estate goals.