Home sellers only want the best possible price for their property. This is why home appraisals can become stressful. A low appraisal might mean you’ll have a lower selling price. Fortunately, knowing and implementing the key factors on what adds value to home appraisal can make a big difference.
To find out how to prepare for your home appraisal we've noted a few points to consider below.
How do appraisers appraise a home?
A licensed appraiser will conduct a thorough inspection of your home during a home appraisal.
The appraiser will look into key factors that could affect the property’s value. He/ She will check for any upgrades, the size of the property and its overall condition. The appraiser will also check on the recently sold properties with comparable condition and size in the same market.
Home appraisal tips for sellers (2019)
1. Get your home appraised now.
Yes, you need to get the appraisal done as soon as possible. You’ll have better home selling experience when you have it early on. Why? Because the earlier you know the defects that the appraiser finds, the more time you’ll have to address them.
The buyer (and their agent) is in control of ordering the appraisal and will often want to complete the home inspection process before being willing to pay for an appraisal.
Have informed decisions as you go on with the selling process. Ask your real estate agent to focus on making sure that the Buyers agent is ready to instruct the buyer and lender to order that appraisal as soon as the buyer home inspection and negotiation process is complete (at the very latest).
2. Clean your home.
What negatively affects home appraisal is when you fail to present a spotless home to the appraiser. Yes, we agreed on getting home appraisal as early as possible. But, it doesn’t mean you’ll show your property to the appraiser as it is on a regular weekday.
A clean home will not prevent an appraiser from seeing the major problems with your property. But does a messy house affect an appraisal? You’ll never know.
It’s important that you give the appraiser the impression that you take care of your property. In this way, he/ she might be more inclined to see your home t it's best.
Another advantage of cleaning your home before the appraisal is that you can see potential problems that the appraiser will definitely notice.
3. Have a more presentable yard.
Another tip for increasing the appraised value of home includes cleaning your yard and landscaping. It’s not about having luxurious lawns and perfect landscapes. You just have to cut the grass and rake those leaves.
Look around and notice apparent defects. What hurts a home appraisal is when you fail to take care of any obvious problems lying around. Those leaves hanging out of your gutters, rotting trim boards, an unmaintained deck could affect the appraised value.
You should also consider improving your landscaping. Planting flowers and adding small trees can go a long way. A weekend in your yard can do much difference.
4. Note that every $500 Matters
Appraisers tend to measure home values in increments. That’s what the $500 example is all about. If you need minor repairs and the appraiser finds out about them, knocking off some value of your home might be his/ her next move.
This is how to increase home value for appraisal. You take care of the seemingly small and unimportant issues. Those non-functional locks, and faulty switches. Those leaky faucets and broken doors. They could add up and make you lose more than $500.
5. Make it easy to appraise your home.
Another great tip to include in your home appraisal checklist is to make it easy on the appraiser. Remove clutter and clean up. Make areas like attics and basements more accessible. Also, be on time for the appraisal. Nothing’s better than building good rapport with your appraiser through courtesy and respect.
6. Make sure your Real Estate agent is there for the appraisal.
Your real estate agent can help you get the highest appraisal on your home. Let him/ her come to the appraisal and bring comparable sales data that supports your desired sales price. Your agent can also point out other important things that the appraiser might overlook. Let him highlight the quality of your neighborhood, the schools around and your recent home improvements.
You need a real estate agent that does more than selling your property. Your agent should be able to represent you in every step of your home selling process.
7. Keep a list of all the upgrades you’ve done to your home.
Do upgrades affect home appraisal? Yes, but appraisers will not always notice everything you’ve done. Also, they will not be sure of how much you’ve spent on all those upgrades.
This is why you have to prepare a list of upgrades for appraisal. Have a simple list that highlights all the improvements you’ve made to your home and the expense of those improvements.
Your list should include:
· The date of your upgrades
· The building permits you acquired
· Any warranties that go along with the work
Remember, the more recent the upgrade, the more value it has.
8. Consult with a local real estate agent.
Cover the most significant factors, big or small, in having the best-appraised value of your home. This is what realtors are for. Your local real estate agent can help you understand what improvements will likely give you good returns.
Agents can give you key pieces of information, information that you can’t find elsewhere.
There are your home appraisal tips. Remember that what adds value to home involves even the smallest things you don’t even notice. Contact a trusted local real estate agent now to get started with your home selling experience.