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Real Estate Agents questions, answered by experts

Yes, wood floors are among the most desirable flooring options, and most homebuyers are willing to pay more for homes with high-quality wood floors installed. Wood floors are relatively easy to repair, maintain, and clean, and buyers may pay a premium for the convenience and natural beauty of wood floors, especially if they’re new or in good condition. You can reasonably expect a return on investment of around 75% or more when you upgrade to wood floors, depending on the quality and type of wood.

Basement bedrooms can count toward your room count and the square footage of your home on an appraisal if they’re fully legal, which means they have proper ventilation and points of egress, as defined by your local building code. Simply partitioning off a space for a bedroom in an otherwise unfinished basement that isn’t a legal living space won’t affect your appraisal value.

Factors considered in a property appraisal include its size, location, and overall condition, as well as recent comparable sales (comparables) and current market trends.

Appraisals are not mandatory but are helpful for pricing accuracy and negotiation purposes.

Yes. If the seller includes a kick-out clause in the contract, they can accept another offer while contingent.

The Salem, NM homeowners’ guide to real estate services

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