What Leads To A Low Appraisal When Selling A Home In Atlanta?

We buy houses as is in Atlanta, GA

When you are in the process of selling a house in Atlanta, getting a low appraisal can be a real bummer especially when you’ve put in all the hard work, fixed things up, maybe even baked some cookies for that homey smell during showings, only to have the appraiser come in and throw a wrench in your plans. So, are you wondering, “what gives way to low appraisals when I am in a hurry to sell my house fast in Atlanta, GA?” Here are some common reasons and what you can do about them.

The Market Is Just… Weird

Atlanta’s real estate market can be quite the roller coaster where prices can fluctuate based on a variety of factors such as,

  • local economic conditions
  • interest rates
  • and even seasonal trends

If the market is cooling off or in a state of flux when you’re selling, it might affect your appraisal negatively. Appraisers look at recent sales of similar houses (comps), and if those comps have sold for less, it can drag your appraisal down.

Condition Of The Property

If your home has visible wear and tear, outdated fixtures, or issues that need repairs, the appraiser is going to notice. Things like a leaky roof, old plumbing, or a run-down exterior can knock down the appraised value. Even if these issues don’t seem like a big deal to you, they can raise red flags for appraisers who are tasked with assessing the overall condition and marketability of your Atlanta property.

Improvements That Don’t Add Value

You might love that fancy, custom-built koi pond in your backyard, but unfortunately, not all improvements add big value to your home. Appraisers focus on upgrades that have broad appeal and are in line with neighborhood standards. If you’ve made unique upgrades that aren’t normally valued in your locale it might not boost your appraisal as much as you’d hope.

Neighborhood Factors

When it comes to appraisal, many a time, it’s not about your house at all. Factors in your neighborhood can play a big role in your property’s appraisal. An area with higher crime rates, poorly rated schools, or declining infrastructure can all contribute to a lower appraisal. Even things like nearby construction or noise levels can negatively impact the perceived value.

Appraiser’s Expertise And Bias

Yes, appraiser’s personal experience and knowledge of the local market can also influence their judgment. An appraiser who is less familiar with your specific neighborhood can undervalue your home compared to someone who knows the area well. Plus, biases, whether conscious or not, can sometimes come into play.

What Can You Do About A Low Appraisal?

  • Before the appraisal, gather your own comps and make a list of any upgrades or renovations you’ve done. This can help provide a more accurate picture of your home’s value.
  • Take care of any minor repairs, paint where needed, and make sure your home looks its best. First impressions do matter.
  • If possible, be there to answer any questions and provide additional information that might help the appraiser understand your home’s value.
  • If you believe the appraisal is unjustifiably low, you can appeal it. Provide evidence to support your case, such as better comps or documentation of recent improvements.
  • Sometimes, it might be worth getting another appraisal to compare. Different appraisers might see different values in your home.

Alternate Way To Sell Your Atlanta House Without An Appraisal

Selling your house to a cash home buyer in Atlanta, GA is one best option, as these buyers have their own funds to purchase your property. There is no need of an appraiser in a cash home sale. At Sell House Fast, we buy houses as-is in Atlanta, GA for a fair price in less than two weeks. We will also take care of your closing costs and other miscellaneous expenses that occur during closing.

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