Posted by Kristine-CA on March 28, 2006 at 11:41:53:
I’ve never paid for an appraisal upon selling. Is that common where
you are? It’s the buyer’s job to determine value. Most often, of course,
it’s their lender that will require the appraisal.
You don’t need to justify price. You need to make sure that your
asking price after improvements are comparable so that you can sell to
a retail buyer. Trouble with comps is that you most likely won’t be able
to tell what properties were sold with major improvements. Where I
am, the comps are not very different for remodeled vs unremodeled.
It’s a hot market and the comps reflect square footage and major
amenities–not whether the bathroom had new tub and tile. You may
want talk to some appraisers in your area to get clear about this.
My guess is that selling as-is may be more profitable, but I don’t know
your market. If you figure out your bottom line in regards to profit
goals AND time you want to spend, I think you’ll be able to figure out
which way is best for you. Kristine