As many homebuyers and sellers have found, an appraisal can make a world of difference in guiding a home’s final selling price. Although not an exact science, the act of appraising a property provides an objective opinion based on market value. And although final values can differ from appraiser to appraiser, there are certain steps you can take to make sure your home’s price is in fighting shape when it hits the market.
1. Go local
Not all appraisers are created equal – at least in terms of knowing your neighborhood. Appraisers who don’t know your area well can come up with an uninformed value. And since the quality of your home’s surroundings is a big factor within the appraisal process, finding a local appraiser who understands your location can be crucial in getting the most out of your asking price.
2. Be respectful
Do not crowd your appraiser while he or she is making the rounds through your home. Remember, they are there to do a job, so try to avoid becoming a distraction. Offer a few bits of information on improvements you have made to the home and positive changes that have recently occurred in your neighborhood, and then let them get to work. Some appraisers suspect a chatty homeowner might be trying to hide something.
3. Add value
Well before you sell your home, consider making your improvements strategically and in line with what will get you the most bang for your buck. Fix up your bathroom and kitchen, which are the top two rooms that can generate a positive return for your investment. The National Association of Realtors also identifies wood floors, landscaping and enclosed garages as things that can increase appraisals.
3 ways to land a high home appraisal
A fair, accurate appraisal aids both the buyer and the seller. Look for an appraiser who comes highly recommended and knows your neighborhood.