The words “Home Appraisal” can cause severe stress for home sellers and many Realtors. A low value from the appraiser can cost a home seller thousands of dollars or even worse, kill a sale.
This, of course, doesn’t have to be the case. With a little knowledge and some preparation, the appraisal can be a breeze.
Pricing For The Appraisal
Before your home ever hits the market, you should focus on pricing. The price you choose needs to consider the appraisal. The home seller should choose a listing price that can be supported by comparable sales data.
Your Realtor should be able to provide this type of data. There are situations where finding comparable sales is difficult. Some homes are so remote or unique; there are no similar sales. Even in these situations, there are ways to price correctly.
Preparing Your Home
The appraiser will measure your home to determine the living square footage. They will also be confirming the bedroom and bathroom count. You should make every effort to prepare your home for the appraisal. This means decluttering and making sure the appraiser has access to all parts of the home.
Avoiding Appraisal Myths
The appraisal process is very straight forward. The appraiser uses comparable sales along with debits and credits for upgrades. They compile this data to determine a value. There is a lot of misinformation around the appraisal process. Learn about these “Appraisal Myths Too Many Sellers Believe.”
Don’t complicate the appraisal process by making foolish mistakes. Price your home correctly, make repairs and make sure it’s presentable. Follow these simple steps, and your appraisal will be a breeze.