Home appraisals provide you with a realistic value of how much your property is worth. It also provides useful information about your home to a potential lender or a bank. There are a number of factors that influence a real estate appraisal such as the age of the property, the neighborhood, future marketability, current selling prices of similar homes, etc.
So, if you are looking for either refinancing or selling, here are a few things to consider so that you get the most out of your home appraisal:
Showcase your home well
The very first step is to make your home look good! Cleaning and tidying up could make a better first impression on the mind of the appraiser. A quick glance around your house gives an experienced appraiser a fair idea of what to expect. So, make sure to showcase your home well and get rid of all the clutter to create a good initial impact.
Point out the distinguishing characteristics
Point out what is special about your home such as landscaping, new flooring or proximity to some famous landmark. All these factors are considered by a real estate appraisal company while evaluating your home.
Provide your own comparables
It’s a good idea to voluntarily provide some recent sale comparables that are in the same value range that you are looking for. The appraiser may or may not use them, but make sure that you provide sales data for a few well-priced comparable properties.
Understand what adds the most value to your appraisal
Lastly, make sure that you understand the various factors that affect the value of an appraisal. If you have made major renovations or minor changes to your home, make sure that you mention it to the appraiser. You can even provide before and after photographs if you have them.
Most real estate appraisal companies have a set of guidelines to follow and work with a checklist. All you need to do is to make sure that you put your best foot forward and provide the valuer with all the relevant information that could potentially add to the value of your home.
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