Having your home appraised can be a gut wrenching experience. Everything about your home will be assessed and evaluated to be able to move forward with the selling process.
However, what most sellers don’t realize is that the appraisal can also be a good opportunity for them. With the right tools and the right attitude, your appraisal can move on smoothly and efficiently.
Here are some tips to help you.
1. Get to know your appraiser.
Just like anything else, it pays to do your homework to know who you’re dealing with. In this case, know who your appraiser is and find out about your appraiser’s market knowledge of the area. Ideally, he or she will be a local who knows the area well and who has been around long enough to see changes in the market.
2. Go over your maintenance.
Whether it’s a loose brick or a chipped paint or a misplaced furniture, make sure that it’s fixed before your appraiser arrives. Anything obvious that needs work could potentially eat away at your home’s value. Keep a list of your renovation projects at hand, and make sure to list down all the changes you made with the corresponding cost.
3. Moreover, make sure you understand that cost does not equal value.
If you ever did renovations on your home, it doesn’t mean that the amount you spent will be added to the value of your home. Upgrading will increase your property value — but this isn’t always the case. Find out what the economic investment is, because the rate of return is very important.
4. Pay attention to curb appeal.
When you’re getting your home appraised, remember that your house should look like the nicest one in the area. Doing a bit of landscaping or gardening can play a huge role in making a good first impression.
5. Make sure all your appliances work.
You never know which appliances the appraiser will test so make sure that all of them are working. Malfunctioning big-ticket items in a home could be a huge disadvantage to your home’s appraisal value.
And if you’re in any way not satisfied with the appraisal, you can always talk to your appraiser or request for another appraisal as a last resort.