Times change and strategies need to change! YOU must be actively involved in making sure your home gets a fair valuation. Getting a fair appraisal is very important when refinancing and critical when selling your home.
- Condition is a major factor in valuing real estate. Your home appearing well maintained and cared for will have an influence.
- Consider the appraiser’s visit to be similar to an open house. They have a short period of time to form an impression of your home. Pretend it is a first date and work hard to make a good impression!
- The old saying that a picture is worth a 1000 words is VERY true with appraisals. Pictures will be taken throughout the interior of your home. Put away things you don’t want photographed. Make sure a chair or TV is not blocking a major feature like a fireplace.
- Be an active participant in your appraisers visit: Write down a “features” and “improvements” list that they can reference when working on your appraisal
- Point out details that add value to your home like new windows, hardwood floors or additional square footage not listed with the county.
- Remember, many improvements cannot be easily seen like insulation, plumbing, and electrical upgrades – don’t forget those.
- Don’t assume the appraiser knows all the details of your neighborhood. If you live in a historic area, point it out.
The results of your appraisal can have big impacts on your new financing or your buyer being able to close on your home. A little work upfront can make a big difference.
Disclaimer: The information above is for informational purposes only and does not represent the opinions of Guild Mortgage Company.