Ignite FB Tracking PixelPlanning for A Home Appraisal - Jennifer Eberhard

Planning for A Home Appraisal

by Jennifer Eberhard 06/23/2019

The home appraisal is the process of re-evaluating or revaluing your property to determine the market value either because you want to put the house up for sale or because you want to refinance your mortgage. When you put up your property for sale, you want to have it appraised by a professional as this will give you a fair idea of how much your property is worth.

Financial institutions giving out loans order a home appraisal to ensure the value of the house they are taking as collateral is equal or more than the amount they are providing as a loan. The evaluation helps lenders to avoid losing money if they decide to sell off the property due to failure by the borrower to pay up at the specified time, also known as foreclosure. A certified professional handles a home appraisal and usually has years of training and experience. After the assessment, the expert is expected to give an unbiased opinion about the value of your property. Some things would present your house in a better light and impact on how valuable your property is.

Fix All Damaged Safety Equipment

Ensure all safety equipment that is not working is fixed before the day of appraisal, as lack of these would make you lose points during the inspection. Ensure safety equipment like smoke alarms, security alarms, water heater straps among others are present and functional in your property.

Document Your Renovations

Inform your home appraiser of recent renovations you may have done on the property, the time when you did them and the cost of such repairs. The appraiser might not notice all the changes since it’s not their house, which is why you should bring it to their notice.

A Little Touch Up

Houses with cracked walls, a leaking roof, water-stained walls, signs of pest infestation, damaged floors, or moldy smell will get valued at a lesser amount. Repaint your walls, replace your leaking roof, fix any broken kitchen cabinet, change the doorknobs and generally improve on the appearance of your property. Also, take a walk around and assess the visual appeal yourself to know the things that need fixing ahead of time.

The $500 Rule

Appraisers value property in $500 increments. To be assessed at a higher amount, it’s better to have things like broken doors, damaged floors, old wallpaper, leaky faucets, broken windows repaired immediately. By doing this, you will recover the amount you spent on such repairs in your home appraisal report.

Check Your Yard

You want to take a walk outside your property and do a thorough scan of what might devalue your property, and have it fixed before the home appraiser arrives. Keep your grass and shrubs neat, add some colorful flowers, remove dried leaves littering the yard and whatever clutter will make your yard less attractive. Houses with a welcoming curb appeal receive better appraisals and are considered more valuable in the market.

Your seller's agent can help you prepare for your appraisal so heed their advice.

About the Author
Author

Jennifer Eberhard

Jennifer’s fun & bright positive energy shows up in everything she does. This positive energy makes accomplishing highly detailed tasks required when buying or selling a home truly enjoyable for her clients, as she partners with them on their journey to their dream Colorado home. She believes in helping guide the process with her excellent communication and negotiation skills, taking much stress off her clients.

As Colorado native, she is excited to work with those looking for their dream homes throughout Colorado. Her first-hand knowledge of the Denver metro area stretches up Hwy 85 and even follows the I-76 corridor and its unique real estate market. Interested in all people and walks of life, she enjoys learning about clients current needs, as well as their past, to help them get to their future. Wherever your Colorado dream home is, no matter if it is a condo in Denver to helping purchase acreage on the plains, or even stretching up into the front range mountains, she will be excited to assist your search.

Excellent service starts by taking the time to listen and genuinely care about people.