If you are planning on selling your home, or even just trying to refinance your mortgage, you will need to get your property appraised. An appraisal is the primary factor in how much money you can sell your home for. There is a lot you can do to prepare and make sure you get a good appraisal. Here are some of the tops tips to maximize the appraisal received on your home.
Get it done early.
You do not want to wait until last minute to get your home appraised. The information received plays a significant part of the selling process. If there are any problems, you want to know early so you can address it right away; you do not want hold-ups on the sale of your home.
Clean your home.
No, a clean home will not prevent an appraiser from finding major issues with your home, but when your home is clean, it gives the impression that you take care of your property. The appraiser may be less prone to find fault and a little more inspired to see the best in your home.
Clean up your yard.
The same idea as cleaning the home goes for the yard. Cut the yard, rake leaves, and tidy up to put your house in the best light. It may also give you an opportunity to see problems that can be fixed easily before the appraiser comes.
Make it easy on the appraiser.
Most people respond to courtesy; get on their good side by cleaning up, removing clutter, ensuring all areas are accessible, and being on time.
Use the $500 rule.
Appraisers tend to measure the value of a home in increments of $500. Things like broken doors, non-functional locks, leaky faucets, and other minor repairs can really add up. These things are cheap enough to repair and being proactive in fixing them will help you avoid lost value in the appraisal.
Make sure your real estate agent attends the appraisal. An excellent real estate agent does more than sell your house – they represent you at every phase of the transaction. Agents will bring comparable sales data to support the asking price and point out important things about the neighborhood, schools, and any recent improvements done if it will increase value.
Being unprepared for an appraisal could be a costly mistake. The appraiser is the person that will provide the lender with your home’s value. You want to like what they tell the bank about your home and definitely want it appraised at the agreed upon sales price.