Home appraisal time, are you nervous yet? Don’t be, this doesn’t have to be a nerve-wracking experience for you. If you use the right tools, and go into the process well informed this can be a pretty easy experience. The following information will also help you make substantial gains in your journey towards your next home.
Did you study up?
As with most aspects of the real estate process, it’s good to do your homework. The appraisal process is really no different, make sure you’ve looked into the Rolla real estate market thoroughly. Presumably, your appraiser is a local Rolla residient who is quite versed in the Rolla homes market. Also, make sure they’re certified, you could come across an appraiser who has yet to receive their certification. If the buyers bank ordered the appraisal then the appraiser will be certified.
A week before, or at least a few days before the appraiser arrives do one final inspection. Make sure everything is clean and well organized. Don’t bet on something looking “okay” or “holding up” until just after the appraisal. Make the investment in whatever improvement needs to be made. You need to be thinking long term with these improvements, their impact on your home value could be important. You can read How to Keep Your Sanity While Selling Your Home as much of the tips offered are just as important for appraisal day.
Always go for the best-looking house on the block when you’re about to get an appraisal. One of the biggest aspects of curb appeal is the landscaping. A beautiful home can get dinged by an unkempt front yard with weeds and unruly grass. At the very least clean up the front, make sure the lawn is mowed, weeds pulled, leaves collected and that there’s no trash.
Check the Appliances
Have you checked all the appliances? Make sure if they’re not new that they’re all running efficiently. A malfunctioning large home appliance can certainly impact your home’s value. So, if need be you should replace the appliance or check your warranty and call the manufacturer to see if you can have repairs done.
How well do you know your neighborhood?
Prior to getting your home appraised it’s important to see what the nearby homes in your neighborhood are currently valued at. The neighboring home values are a very strong influence on your home’s appraisal value. The appraiser will do their research and find homes that have sold recently and what would be considered comparables to your home. Similar method your listing agent did when she or he helped determine the price of your home.
Cost does not equate to value
We discussed how minor improvements can make a difference to your home’s overall value. However, not every single improvement you make will bring up your home value. Understanding effective economic return is very important when it comes to home value. Many improvements will help you sell your home but the improvement may not add that dollar amount you spent to the price tag.
Should you have your home appraised prior to selling?
No. Your money would be better spent on having the home inspected and working on any items that come up on the report. An appraised value doesn’t equate to sales price in a buyers mind.
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