Real Estate

What You Need to Know About Getting a Home Appraisal

What You Need to Know About Getting a Home Appraisal

Usually, before you can sell your house, it has to be appraised to determine its actual value, and only after this is done can a buyer close on a loan. The appraisal process can be stressful for sellers, but with the points, we will be discussing in this article, you will be able to raise the value of your home.

Give Your Home a Facelift

The state of your property as a whole can influence the appraisal. While you don’t have to clean out wardrobes or remove objects from beneath the bed, decluttering the house and tidying up the rooms is a good idea.

Looking around for sections that could use some work, such as stains on the carpet, marks on the walls, and damaged fittings, all of which can give a negative impression and as a result, reduce the value of your house. Spend a few days cleaning up your home’s condition to guarantee that it appraises at the greatest potential price. Cleaning the carpets, repainting the walls, repairing a malfunctioning toilet, and patching a hole in the wall are all examples of this.

Check the Landscaping

The appraiser will conduct a review of your exterior, not just the interior, so don’t focus all your attention inside the house. Poor landscaping, a broken garage door, and a cluttered backyard can also lower your appraisal. You don’t have to hire a landscaping crew and completely redo your backyard, but you should mow your lawn, edge the yard, trim hedges, and remove trash and other clutter.

Related:  Why Home Warranties Are a Necessity

If you have time and a few extra bucks, buy potted plants to add color and enhance your curb appearance as well as other exterior problems, such as removing mildew off the house, putting on a fresh coat of paint on the garage, or shed and fixing broken gates.

Keep Track of Your Accomplishments

The appraisal procedure takes only a few minutes within which the appraiser inspects your home and makes a general assessment of its condition.

Although upgrades and repairs boost the value of your home, the appraiser may be unaware of this, so make a list of all repairs and upgrades performed during the last 15 years before the appraisal was scheduled.

A bathroom remodels, a kitchen refit, a new roof, new windows, a room addition, or a pool are examples of these. Also, do well to include the cost and the date of each upgrade.

Evaluate the Appraiser’s Report

A poor appraisal can put a halt to a home transaction. If you believe the appraisal does not accurately reflect the worth of your home, request a copy of the appraiser’s report from the lender. Appraisers can make errors, such as underestimating a home’s square footage or omitting attractive features from a report, so bring any errors to the notice of the mortgage lender.

If the report is correct, get a second evaluation from your mortgage lender in which your mortgage lender may appoint a different appraiser to evaluate your property. The initial appraisal is paid for by the buyer, but you are liable for any subsequent appraisals.

The Author

Ajisebutu Doyinsola

Doyinsola Ajisebutu is a journalist and prolific writer who takes a special interest in Finance, Insurance, and the Tech world.