A home appraisal is not always a top priority for home buyers and sellers...but it should be.
What Is a Home Appraisal?
A home appraisal is the estimated, objective value of a property. A licensed appraiser, who has no connection to the home lender, seller, or buyer, conducts the appraisal.
A home appraisal is provided after a thorough inspection of the condition and location of the property, including comparable sales and the latest market trends.
While home appraisals are not meant to be available as public records, they make use of public property records and documents to add value and support the appraisals.
Furthermore, if you are looking to purchase a home, you will need to opt for a home appraisal. This is because, without it, no credible or reputed financial institution will let you borrow money to purchase a house.
As a seller, you can take a few steps to get the most out of your appraisal...
1) Make sure your property is in good shape.
Your property should be appealing and reflect a great deal of potential. Make sure you have done the basic fixes such as repairing the cracked walls, replacing burned out lightbulbs, mowing that lawn, or trimming those hedges.
2) Make a list of all recent home improvements.
Make sure to share any big recent home improvements, such as a new roof or an upgraded furnace. Such features can increase a home’s value, so it is always recommended to point them out!
3) Create some curb appeal.
Even the smallest things can make a huge impact! This includes cosmetic fixes such as repairing damaged concrete, making sure that mailboxes are numbered, touching up exterior paint, or even planting a few colorful flowers.
These might seem like minor changes, but first impressions can make or break your home’s value.