Do I Need an Appraisal to Sell My House in Houston?
Agents and mortgage lenders like home appraisals, but I’m wondering if I need an appraisal to sell my house in Houston or not. And I’m also wondering how it could work if there’s no real estate agent or mortgage lender involved. Would I still need an appraisal on my property?
If a seller is willing to sell and a buyer is willing to buy at a certain price, isn’t that what matters? When an agent is earning a commission on the sale of a home, and a mortgage broker or banker is arranging a loan on the home, several people are determining the property value for their own reasons.
The real estate commission is based on the sale price, so how much an agent earns on the sale is directly affected by an appraisal.
And a mortgage broker may also be earning a commission based on the amount of the loan, which is determined by an appraisal.
In addition, county assessors use sale prices to set valuations for property taxes on residential properties.
Must I get an appraisal simply because other people need to establish the value of my home?
Houston Property Appraisals
Houston, Texas has suffered tremendous damage to homes in many neighborhoods due to hurricanes and floods in the last few years, making property inspections and appraisals a necessity to establish value.
But how does that affect me if I find a buyer on my own, meaning no real estate agent is involved, who is willing and able to pay cash for the house, meaning no mortgage lender is involved?
I might choose to get an appraisal for certain reasons, but it won’t be an obligation. It will be my choice whether to hire a licensed appraiser. I won’t make the mistake of asking a real estate agent for an appraisal because they only provide information on comparable past sales, which is not the same as an actual appraisal done by a professional appraiser.
I can avoid getting an appraisal by avoiding agents and lenders requiring appraisals. Instead, I can call We Pay Fast at 405-521-1807 and speak to a professional home buyer. They buy homes in Houston and most other states, without the need for appraisals. Selling to We Pay Fast means I don’t pay any commissions or fees, and our transaction will close in as little as two weeks to ten days.