GET THE RIGHT APPRAISAL BY TAKING THE PROPER STEPS Whether youʼre a buyer or a seller, getting an accurate appraisal of a homeʼs worth is critical before proceeding with a sale. When it comes to knowing the value of a purchase, your home is the bottom line.
FOR BUYERS:
In todayʼs market, lots of factors can contribute to an appraisal coming in lower than expected, some of which might include the lack of recent comparable home sales in the area, or using an appraiser from another town or region. Want to know if your home is being appraised properly?
FOR SELLERS:
Ask your lender to find an appraiser that is from the county where you are buying. Make sure that the appraiser has a residential appraisal certification and professional designation. Meet with the appraiser beforehand and inform them of any factors that could have an impact on the appraisal.
Get an appraisal before you list your home for sale. Use it, along with your real estate agent’s expertise to set the right price for your home. See what similar houses are selling for or are valued at. Maintain a file of all the improvements, upgrades made, and tax documents related to your house. If you don’t like the appraisal, question it. Maybe there is some information you can provide or something that you can point out that the appraiser missed.
Also, if you’re selling your home, before you get an appraisal, do your best to make the most of your home’s features. Obviously, your home won’t transform form from a single-family to a palatial estate overnight, so some things in the appraisal (square footage, number of rooms, etc.) won’t change. But you can make sure that things are clean, everything in the house appears maintained and functional, and knock out any DIY projects you’ve been putting off. Following these tips will go a long way towards helping you get the appraisal you want.
