Wow Your Appraiser With This Checklist
A home appraisal is a key part of any real estate transaction as it confirms the value of the property while it justifies the price that is being paid. Once you accept a buyer’s offer to purchase, their mortgage lender will schedule a third party company to perform the appraisal. Recent comparable sales as well as an onsite visit will be completed on your home to evaluate it for many factors. Here is a helpful checklist of things to consider ahead of time to address so that your home receives its best review.
Research Property Value
Before the appraisal is even scheduled it is a wise idea to get an estimated value of what your home is worth and you can do this in a few ways. You should be able to do some online research of recently sold homes nearby that are similar to yours in size and location. Furthermore, when your agent first listed your home they should have given you a CMA. This will have a home value in it along with some recent comps to support it.
Make sure that the appraiser has full access to every part of your home. This includes attics, closets, garages, separate dwellings and storage areas.
Build Fact Sheet
For anything that is not crystal clear, draft a fact sheet and list things out. These items may include major recent improvements or upgrades, new systems with warranties, any homeowner’s association fees or info, nearby school info or other external benefits.
Conduct Minor Repairs
You certainly want the home in perfect condition and chances are it may be close to it if you recently listed it for sale. If not, tend to things like missing pieces of trim, broken doors, peeling paint or anything else that needs fixing as appraisers will notice these things.
The same idea as repairs applies here too. If you recently got your home into perfect condition to list it for sale, then cleanliness should be top notch. Make sure it is still in great condition for the appraiser just as it was for the photographer. Appraisers will understand if you have begun packing however so you don’t have to worry so much about that.
Similar to access that we spoke about earlier, be sure pets are secured and don’t impair the appraiser from entering any rooms or areas. Take dogs for a walk or restrict them to crates to keep them out of the way.
Copy of Report
Appraisers can make mistakes so ask for a copy of the report so that you can review for accuracy. Sometimes a measurement could be off, comps may not be the best ones for one reason or another but you can ask your agent for assistance on some of these items to review.