How to Prepare for a Real Estate Appraisal
By David Hood, San Bernardino County Ca
http://www.1iea.com/
A real estate appraisal is an important part of the process when refinancing or selling a home.
The following are a few things to help the inspection process go smoothly.
- Accessibility, the appraiser will need to measure your home. To do this most appraisers will use a tape measure or a wheel and walk around the entire structure. Make sure that all sides of the home are accessible.
- Prepared for the appraiser to access the garage, as your garage will also be measured. This is done to separate living space from non-living space.
- Daily living, Appraisers inspect hundreds of homes a year and will look past a messy bedroom or two but, a clean house can't do nothing but leave a good impression.
- Yard work, it's not a bad idea to take care of some of that yard work you might have been putting off. Prior to the inspection, pull weeds; cut the lawn, trim bushes ect.
- Most appraisers will take pictures of the exterior and interior of your home; these pictures will be included in the appraisal report.
- Maintenance: Repair minor things like leaky faucets, missing door handles and trim.
- If you are in the process of remodeling and the work is not completed. Let your lender know this ASAP. You don't want too be in a position where you are refinancing to finish the work and the lender won't lend until the work is complete. "Subject to Completion".
- Additions if you have added additional living space, let the appraiser know this when they call you to set up the inspection date. Have your permit numbers to provide the appraiser during
- The inspection. The appraiser is going to pull Comps based on county records, public data sources. If they don't know you have added the additional space, most likely the appraiser will pull the wrong comps for your house.
- Information on the latest purchase of the property in the last three years or listings of your home in the last year.
- A copy of the Purchase Agreement if a sale is pending.
- Information on your HOA if you have one.
Have a Great Day
David Hood, Real Estate Appraiser
http://www.1iea.com/
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