A real estate appraisal helps to establish your property's market value. The appraisal determines the likely sales price the property will bring if it is offered in a competitive real estate market. Your lender will require an appraisal if you are seeking a loan in which the property will be held as security. The lending agency will want to make certain the property will sell for at least the amount of the loan.
If you are selling your home or refinancing your home, you will have to get an appraisal. In both instances, you want the highest appraisal possible to ensure the sale goes through. Every dollar at which the property is appraised is potential money in your pocket
You can not fool an appraiser because they know every trick that people have tried in the past. They have gone to school, they have gotten licensed and they know their job. Trying to fool an appraiser will likely give the appraiser the wrong impression and hurt you rather than helping you. Here are a few suggestions of things you can do to possibly get the highest appraisal possible.
Make your home presentable. While your home doesn't have to be spotless as it should be when you are scheduling showings, having dirty laundry strewn about, dirty dishes in the sink and full trash cans can give the appraiser a bad impression. Appraisers are human and negative impressions may impact their decisions.
Do any necessary repairs. Before the appraisal, fix any broken windows, railings, steps, holes in the yard, and holes in the walls. You will have to have these repaired before you can sell your home anyway, even if the buyer doesn't care. Your lender will care and insist the repairs are completed before they will approve the loan. Go ahead and get it done ahead of time.
Have you made any improvements? Did you put in new hardwood floors five years ago? Remodeled the kitchen two years ago? Reseed the lawn last spring? The appraiser will not raise the appraisal to match what you invested in your improvements, but do not be shy about pointing them out to him or her.
The fewer distractions the appraiser has, the better the process will go. Control the children and the pets during the inspection. If he or she is worried about being bitten by a dog or is distracted by screaming children, it may not go as well for you. An appraiser who is constantly distracted isn't as likely to come through with the highest possible appraisal.
Don't do the appraiser's job for him or her. People may tell you to suggest homes that have sold in your area that the appraiser can compare yours to. The appraiser will do that anyway. It is a part of the job. The reality is, if you make suggestions, the appraiser is likely to become irritated rather than being grateful for the information. And he or she would be right to be resentful. The appraiser knows you want the highest possible appraisal and will work toward that.
Be very cooperative. Many people don't like strangers wandering around their home, sizing it up. Remember it is in your best interest to tolerate the intrusion. A friendly person makes a much better impression than a person who is put-out and contentious.
It is normal to feel worried or apprehensive when it is time to order the appraisal, but if you have done what you should have ahead of time and you have talked to your Realtor, such as the folks at Nancy Chandler Associates, REALTORS, Licensed in Norfolk, Virginia, then there is nothing to worry about. Your Realtor can give you all the advice you need about what to do and what to expect during an appraisal.
Karen Vertigan Pope writes for Ciniva Systems, an award winning ciniva.com Virginia web design company. Ciniva specializes in web design and SEO. Ms. Vertigan Pope is an SEO Specialist with Ciniva. Ciniva Systems is in charge of SEO for nancychandler.com Nancy Chandler Associates.
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