Pre-purchase appraisals play an essential role in almost every sale involving real estate property. This might be to determine the sale price, help negotiate a fair sale price, or to set an offering price. Whenever typical financing is being used to purchase a property, the lender will require a pre-purchase appraisal to determine the current market value of the property. The market value is needed to assist the lender in deciding whether or not to approve the requested loan amount. Appraisals performed for typical financing purposes are held to a high standard, to which Lexington Appraisals is no stranger to. The accuracy of our pre-purchase appraisals is a cornerstones of the lending process.
An appraisal from Lexington Appraisals can provide you with a professional third-party appraisal, which is far more accurate than a realtor-based comparative market analysis (CMA). A pre-purchase appraisal ensures both you and your agent have an accurate description of your home’s features and a detailed analysis of the most recent and comparable sales.
In addition to helping you obtain the most accurate value of the property, a professional pre-purchase appraisal from Lexington Appraisals can:
- Provide an effective tool for negotiating with the seller and their agent
- Help instill confidence since both the buyer and seller have written proof of the home’s value
- Highlight upfront any obvious repair problems, helping to eliminate last-minute repair hassles that might delay closing
- Decrease the chances of sales falling through due to unforeseen problems
Purchasing a property is a substantial investment with built-in risks and potential benefits. By obtaining a pre-purchase appraisal from Lexington Appraisals, the buyer and seller become more informed about the property and the property’s value. When purchasing a property, place your trust in an appraisal company that has been performing professional real estate appraisals for nearly two decades. Our appraisers are locally based and prepared to provide high-quality, detailed appraisals.
At Lexington Appraisals, we understand that time is of the essence when there is a pending sale of a property. We are equipped to deliver competent appraisals within the time frame you need. All of our appraisals will be completed in agreement of the USPAP guidelines. Call us today for your complimentary consultation and detailed quote. We have the experience and qualifications to meet all of your appraisal needs.