A Las Vegas Appraiser Can Speed A Homes Sale Or Not

A Las Vegas Appraiser Can Speed A Homes Sale Or Not

    A skilled Las Vegas appraiser provides a service that should help make the buying and selling of a residence a smooth transaction. 

        ‘Should’ is the operative word. 

    Going back to ancient times, homes have always been ‘real’ when it comes to establishing the amount of money that they are worth. The home’s role as the center of family and community groupings guarantees that it will change hands carefully. When something is so important, its ownership does not come about haphazardly—doubly so because of its typically hefty price tag, arrived at after deliberation and scrutiny from buyer and seller alike. 

    Every home that is sold in Las Vegas today should be a shining example of the efficiency (and fairness) of our free market. As a mechanism for determining the value of a good, the system is without equal, since buyer and seller have to agree on a price. 

    That’s where having a skilled Las Vegas appraiser comes in. An appraiser (not to be confused with a home inspector, who reports on the soundness of a property) performs an important function in the transition from a Las Vegas house for sale into a house that’s sold. The appraiser’s report provides an outsider’s unbiased opinion of a home’s current market value. Having a professional who knows how to analyze the property as it stacks up against comparables in the Las Vegas—then determining its value in the lively Las Vegas market of August 2015—is intended to provide peace of mind to all parties in the transaction. 

    That it doesn’t always work that way is because, in addition to the buyer and seller, another party may be involved—the mortgage lender. The National Association of REALTORs® puts it this way: as “the increasingly common scenario [that]…even when both sides agree on a price, the deal could fall apart thanks to an under-appraisal.” 

    The situation where buyer and seller agree on a fair price—but the bank’s appraiser determines a value that falls short—usually means that a sufficient loan won’t be offered. Bankers are required to protect the bank, and if they aren’t reassured that the equity in the loan’s underlying collateral supports the mortgage amount, okaying it would expose the bank to a loss. 

        Bankers would rather not. 

    But Las Vegas homeowners on the verge of a sale can head off the problem. The solution is to address deferred maintenance and significant repairs or, per the NAR, “any condition that affects safety, soundness or structural integrity.” It’s a cinch that the best comparable sale figures reflect homes where those issues were addressed. 

    There are also some less-obvious actions Las Vegas homeowners can take. For instance, some experts advise removing sensitive or religious pictures before an appraiser’s visit. The reason isn’t that of any prejudice from the appraiser. Rather, since rules prevent an appraiser from violating a homeowner’s privacy, some photographs of rooms might not be allowable—resulting in a report that lacks sufficient photographic documentation! 

    An accomplished Las Vegas Realtor will advise you on how to best prepare for an appraiser’s visit, as well as make sure the appraiser has all the details needed to prepare the kind of comprehensive report that lets bankers sleep at night. This is part of my service—and another good reason to give me a call!

Image title

John Gafford Headshot
Phone: 702-785-4699
Dated: August 24th 2015
Views: 475
About John: John Gafford, as seen on NBC’s The Apprentice, is a listing specialist. As the Broker Owner of the...

Property Search

RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

New Modern Style Home - Great Floor Plan inside Paseo
Tuscany - Beautiful 5bed/5bath/3 car garage/
Roof Top Solar Panels Savings Or Fraud - Thinking about purchasing a roof
Luxury Listing Price Reduction - 3465 PAMA LANEBEAUTIFUL!!! 6

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

The Gafford Group at Simply Vegas
1780 Horizon Ridge Parkway #100
Henderson, NV

Other Locations