Going to try it to sell it on your own? First let us tell you that a GOOD realtor is worth what you are paying them. They can and will be able to help you price, market and negotiate a contract. Furthermore, homes listed with a realtor typically sell faster and for more than the typically marketed For Sale By Owner (FSBO) home. Simply stated you come out ahead with a realtor.
Having read the above information, and you want to try to sell it on your own we can help. First an appraisal can help you establish your asking price and expectations. For example, you may get a contract for your ideal price from friend, neighbor, or relative etc without the use of a realtor - plus no sales commissions to the realtor. Regardless of the contracted amount your buyer may not be able to get financing because the contracted sales price may not be reasonable. Conversely, the amount offered to purchase your home by your brother-in-law may be substantially below market value. In which case you would be leaving money setting on the table.
So the answer is easy get an appraisal done, that way you (and the buyer) are better informed with regards to the property's value. Also, this appraisal done for buyer and/or seller can usually be transferred to a lender for mortgage financing purposes (a nominal fee applies).
If you are the buyer dealing with a FSBO seller, get an appraisal done before you start writing a contract. The price of the appraisal is well worth it in this case. Imagine that you and the seller are in agreement and all is going well, until the appraisal is done for the mortgage financing and your loan is denied, and you have likely committed time and money to the process with the lender. If you are the seller, your home is having to compete with all of the other homes that are listed with realtors (with less market exposure). An appraisal can help you have your home priced competitively and you can provide your buyer with an appraisal for their consideration/marketing. The amount you could lose by being less than informed is likely greater than the cost of an appraisal. Remember if your buyer cannot get financing because the sales price is unreasonable then you do not have a sale. To have your home priced correctly and competitively, is to sell it (most likely) in a reasonable amount of time. Think of it this way, when your home is not selling and your next mortgage payment is due month after month, that is costing you an amount equal to your payment, plus you equity is tied up in an unsold property. Regardless, if you are the buyer or seller in a FSBO transaction, get an appraisal done. Canfield Appraisal Services can help you.
Appraiser in corpus christi. Working in Nueces, San Patricio, and Kelberg county. We include the cities of Corpus Christi, Kingsville, Port Aransas, Portland, Ingleside, Aransas Pass and Bishop.