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When working as a listing agent, one of the hurdles we must jump through after getting the home under contract is the appraisal.
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8 Comments on Ready – Set – Appraise!
Belinda... you are so right!! We are now facing a strange market in Denver. We should always meet with the appraiser or have lots of comps for them via email or at the home. Best to look them in the eye, tho. Especially, when I work my short sale listings... need the right value for those, too!!
Belinda - In our area we don't to pick the appraiser and have very little if any contact with them. I do make sure there is a list of upgrades left in the home for them to take if they so desire. Isn't it odd how crossing the state line changes all the rules.
All excellent points Brenda. Our market is hot hot hot and we've had mulitple offers on just about everything under 400K. I think it is a good idea to pull comps and meet the appraiser. Yes they can obviously pull comps but they don't know our areas as well as we do. I had 4 appraisals on one property because they didn't get it right. We have to stand up for our clients as best we can.
Belinda, with HVCC we see appraisers being sent from as much as 40-50 miles from their office to the subject property. Sometimes, if the agent has those comps with additional area market information it will help the appraiser complete the report.
Hi Belinda -- we have been told as listing agents to interview the appraiser when they call -- ask some questions, see how familiar/or not they are with the area - things like that as we have no say in who the appraiser will be. Your suggestion to have the sellers prepare a "brag sheet" of what/when/$$$ of improvements made is spot on and is a good tool for preparing the marketing material of the home as well.
Ok Belinda, Today we have to appraiser to meet, hope both goes well for us. Both homes have great upgrades.
Belinda, We too have found that no two appraisers are the same and it's best to compile whatever info you can to get to the closing table!
BB, as with everything; no one's opinion is totally the same. I'm glad you bring your own comps, just in case, that shows how hard you work for your clients!