SOME HOME APPRAISAL TIPS

Banks and lending institutions all use up to date appraisals to determine whether they will lend money against a piece of property. This is true for purchasing a new home or refinancing your present property. Appraisals are usually performed by an approved appraiser. The appraisal is usually based on several different factors including comparative listings and current sales and the general condition of the property. Most appraisers will do a fairly fast walk through of a property and not spend too much time actually looking at the subject real estate. There are several things that can be done to help ensure that the appraisal comes in where you need it to be.
1 “COMPS”
Anyone who has been around real estate for awhile has heard of this term. It is short for comparable or similar properties in the neighborhood that can be used in a pricing analysis. You can help your appraiser to find his/her comps by using a site such as
Redfin or Zillow and pick out the listings in the area that are close to, or above your desired appraisal. There is no guarantee that an appraiser will use any comps you provide, but offering them may help to get the appraisal you want.

2 MAKE AN IMPRESSION
It is important that your home is neat and clean for the appraisal, inside and outside. The curb appeal is very important.

3 LIST ALL IMPROVEMENTS
List all of the improvements you have made to the property for the appraiser. Make sure that even if you have not made any improvements, list the best features of the home like air conditioning, hardwood floors, stainless steel appliances, etc.

4 DON’T BE PUSHY
Let the appraiser do his or her job and don’t be pushy or overwhelm the appraiser. Once you have discussed the good points, the comps and recent sales in the neighborhood and given the appraiser any documents, let him or her do their job.

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