What to Know about Home AppraisalsThe most important thing to know about a home appraisal is that this report can easily kill the deal. If the home comes in under the agreed selling price, it creates a bad scenario. After all, the lender will see the property just isn’t worth the agreed selling price. Which means the buyer will have to come up with the difference or get the seller to lower the price to equal the appraised value.
One common thread that runs through homeowners is that they typically think their home is the nicest in the development, according to Loreen Stuhr, veteran appraiser with Appraisers of Las Vegas. Stuhr goes on to say that the single most difficult challenge she faces in her business is trying to convince a homeowner otherwise. Whether or not you own the nicest home on the block, when it comes time to refinance or sell it, getting a high house appraisal is crucial. —Real Estate.comHowever, if the appraiser determines the home is worth more than the agreed selling price, the seller will certainly look for a way out. With these two possibilities in-mind, it’s easy to understand just how important the appraised value is to viability of the transaction.
Top Pompano Beach Home Appraisal Preparation StepsSince the appraisal plays such a huge role in the deal, you as the seller need to make the best impression possible on the appraiser. Here are some helpful suggestions for how to do home appraisal preparation to boost the value:
- Boost the curb appeal. Research shows time and again, it only takes 7 to 10 seconds for a person to form an impression of a property. That means curb appeal is a top priority. So, be sure to dress up the front yard and the exterior.
- Repair anything that’s broken. Whatever might need repair needs attention. Fix everything that needs it because this will count toward the value of the property. And, you don’t want to give the buyer any objections.
- Print a list of home improvements. If you’ve made home improvements in the past, make a list and print it ou. Leave it for the appraiser to review and this will help increase its value.
- Create a list of comparable properties. Also, you should leave a list of recently sold, comparable properties for the appraiser. This helps the appraiser to determine the house’s true market value.