Have questions about buying or selling a home? Homeowners who decide NOT to prepare for an appraisal often regret their decision. Share this article. This type of information is typically available online with the local county assessor, however if you have bought any adjacent property to increase the size of your site and have a survey, you may want to provide this to the appraiser to make sure they consider all of the property. “Sometimes homeowners feel that they have little to no influence when getting an appraisal on their home but this is not always the case. I suggested that they make a detailed list of the improvements and upgrades so we could give to the appraiser. For additional insights, read my previous blog on What Are The Options If A Home Appraisal Comes in Low? And, if you have a dog or other pet, try to keep them out of the way when the appraiser is there. Many homeowners don’t realize the damage that neglected repairs can have during the sale process. The first involves getting the house ready for the appraisal inspection and the second involves collecting information to give to the appraiser during their visit. 3 Tips for a Higher Home Appraisal. The bank appraisal is one of the most common reasons a real estate transaction falls apart! It may seem that homebuyers and sellers don't agree on much, but they share one important concern: that the transaction is successful. A fair opinion of value gives buyers and lenders a clear picture of a home's worth. Simply leaving the list of upgrades and improvements for the appraiser increases the chance they don’t overlook a feature in your home that could impact the appraisers valuation of your home. Many appraisers will inquire with the listing agent to see if the can check if the seller has a copy of the instrument survey from when they purchased the home. An easy tip to prepare for an appraisal is to give your home a deep cleaning. An appraisal serves as a safeguard for the lender who is funding the money as it ensures that a borrower is not paying more for a property than it’s truly worth, which protects the lender from over funding. For example, a luxury home may have heated floors, a steam shower, or an electrostatic filter that an appraiser could potentially add value for if they realize the home is equipped with these features. What Makes a Typical American Home Typical? All information is deemed reliable, but not guaranteed. I can help answer any tough questions you may have. It’s extremely important that you know exactly how to prepare for an appraisal, otherwise you’re potentially building some major roadblocks! It’s possible an appraiser can miss potential safety issues in your home, but it’s always suggested to be proactive and repair prior to the appraisal appointment. This comradery is never more evident than during the appraisal process. hs-content-id-3746548136 hs-blog-post hs-content-path-blog-4-things-sellers-should-do-to-prepare-for-a-h hs-content-name-4-things-sellers-should-do-to-prepare-for-a-home-a hs-blog-name-eric-stewart-group hs-blog-id-2389513310, By: With over 35 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. See All. In short, before an appraisal is ordered, the buyer has to sign a contract to buy your home for a certain price (determined by a comp), and then (and only then) will a home appraiser come in to verify that price. Making the most of home appraisal process can help you ensure that this asset gets the valuation it deserves. Look at the sales prices for homes in your area that are similar in square footage, layout, upgrades, and condition to your own. If an appraisal comes in low and there is an appraisal contingency in the contract, the buyer could balk at paying the agreed upon purchase and walk away from the deal. The above tips to prepare for an appraisal are all fairly simple, don’t cost a ton of money, and shouldn’t suck up a ton of your time. Creating a pleasant visit for the appraiser will not guarantee it’s a successful one, but definitely can help with their overall impression of your home. It's only natural, since the results of the appraisal can send the deal spiraling out of control. This is due to the fact that many of the upgrades in a luxury home aren’t visible to the naked eye. If your home has gone under contract, you are now in the home stretch of your real estate sale. Finally, as you prepare for an appraisal, it’s highly recommended that you gather and provide important documents about your home to the appraiser. There is actually a significant difference between an appraisal and a home inspection. what's the best way to pay for my mortgage refinance, Hard money loans: great option when buying a fixer upper. - Diane Pullen-Hendricks. Have you ever walked into a house and were blown away by a pet odor or by the pure dirtiness? 4 Things Sellers Should Do To Prepare For A Home Appraisal. As you prepare for an appraisal when selling your home, it’s extremely helpful to create a list of all upgrades and improvements that you’ve made in your home. Inspect Your Home For Potential Safety Issues As You Prepare For An Appraisal! Rights Reserved. There are numerous things that owners can do to help prepare for an appraisal inspection and hopefully contribute to a favorable appraisal. Money. It’s never too early to start the planning process and getting professional input on your home’s market value. Home appraisal tips – and what is home appraisal based on. If you happen to be selling your home with pets, there is nothing worse then Fido nipping at the appraisers ankles while he or she is trying to do their job, so make their visit as pleasant as possible! If the appraiser looks around and there are no simple repairs needed, they are more likely to assume that larger items and systems are maintained as well. The Eric Stewart Group has completed more than 3,000 real estate transactions, placing Eric in the top 1% of Realtors® in the nation. But, it’s good information for the appraiser to have when comparing your home to others in the area. Cost does not necessarily equal value so whatever was spent may not translate to a dollar for dollar value increase. As you’re walking through your home with a critical perspective, you need to be on the lookout for roof leaks, damaged siding, broken tile floors, and a variety of other potential repairs that scream neglect.

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