How to Get the Best Valuation on Your Home Appraisal
Let’s say you have an offer on your property from a qualified buyer and you’re ready to start the moving process. Before you get too far ahead of yourself, there is one more crucial step to overcome before settlement day; the home appraisal. The appraisal is paid for by the buyer and it ensures that the home’s value is equal to or higher than the loan amount. Although it is the lenders job to appraise the home, there are a few things you can do to increase your home’s appraisal value.
Before putting your home on the selling market, it is always a good idea to get a pre-listing appraisal. This service must be paid by the seller but it can give you a better idea on the actual cost of your home and it may make things at the settlement table easier once you have found a buyer. The pre-listing appraisal can also be given to the buyer’s appraiser as a guideline to follow. If your home is already on the market, there are still a few things you can do to make the appraisal process smoother. Collect all the information your realtor supplied to you about other similar homes being sold on the market. Any other information you may have that can help the appraiser in clarifying the appraisal of your home should be given to them. Likewise, you can provide the appraiser with a detailed list of all the upgrades and modifications made to the property.
By the time appraisal day comes it’s important to clean the features of the home that you will not take with you; carpets, hardwood, ceiling, etc. Exterior should also be looked after, making sure lawns are cut, weeds are pulled, and shrubs trimmed. Don’t forget about basements or attics, both of which need to have space for the appraiser to inspect the home. If you have small children or pets, make sure they are not in the appraiser’s way and you should not interfere as well. Providing the appraiser background information and maintaining the exterior/ interior of the home will make the process easier. As the seller of the property, you cannot necessarily change the appraiser’s mind about the value, but you can do certain things to make the process smoother and to give yourself a chance at a higher appraisal.