What to Expect When an Appraiser Comes to Your House

You’ve received an offer on your home and you’re anticipating the closing process. But, before that, all sellers must experience the necessary and nerve-wracking ordeal of a house appraisal. 

Industry experts believe that appraisals are one of the most common reasons why buyers back out of a deal. Even if the seller doesn’t back out, a home appraisal can have a significant impact on the final closing price.

A survey conducted by the National Association of Realtors revealed that house appraisal issues account for 25% of the contract delays. An appraisal can be overwhelming. But, if your property is well-kept and you’ve taken measures to upgrade the house and add more value, you have nothing to worry about.

Here’s everything you need to know about what to expect during a home appraisal:

Give the Appraiser Unrestricted Access to the Property

The home appraiser will need unrestricted access to examine and inspect every nook and cranny of your property. The primary responsibility of the appraiser is to examine the property for defects and signs of damage. They’ll examine the construction of the house and how the property has been maintained. 

From the attic to the garage, prepare yourself to get comfortable with the idea of an appraiser running around your house. They examine each corner and inspect the drainage system, amongst other aspects.

Appraiser Undercover

In order to examine the true market value for your property, the appraiser will go undercover and conduct research on aspects you’re likely unaware of. The appraiser has to do a lot of research behind the scenes and comb through various sources. 

The appraiser will examine private data vendors and county courthouse records. They’ll also use the Multiple Listing Service and neighborhood trends to examine the current listing and sales prices across your neighborhood to compare the prices with the value of your property. A field inspection will also be done. This typically involves an overview of the external features of properties that compare with your house in terms of size, features, and price.

Prepare the House for a Photo Shoot

It‘s important to keep in mind that the appraiser will take photographs of the exterior and interior of your house. Therefore, it‘s important to make sure that all rooms and spaces across the property are squeaky clean, de-cluttered, and well-arranged. Be sure to organize the house and spruce it up with natural sunlight and plants before the appraiser arrives.

The home appraiser is required to take photographs. The moneylender will be interested in examining them to see the condition of your property. If your house appears to be cluttered and unkempt, the lenders are likely to assume that your property is ill-maintained. To avoid this, start cleaning and maintaining it as soon as you decide to sell it. This helps avoid the last-minute stress of going on a massive cleaning spree and the awful disappointment of rejection from lenders.

Sizing Estimates

The appraiser is also going to undertake a thorough estimate of the square footage of the entire property. This includes the exterior and interior of the house and all living spaces. However, the square footage measurements in the appraiser’s calculations doesn’t include non-living spaces, such as the garage or patio. This tracks any changes or expansions you’ve made to your house that may not be reflected on the record.

Overview of the Property

The appraiser’s report usually includes an overview of the entire property. This includes the layout, condition of appliances, and any upgrades you may have added to your home. The appraiser will record the number and sizes of rooms or spaces in the house alongside the floor plan and a number of other aspects that help them determine the overall condition of your property. 

It’s important to note that an appraiser doesn’t perform the same services as a home inspector. However, be prepared for them to record all apparent signs of damage and defects in your property. In order to ensure you receive the best appraisal, be sure to perform thorough repairs and clean up your property. This includes the interior and exterior of your home to ensure it’s lively and well-maintained.

Instead of fearing the house appraisal, focus on sprucing up and adding value! Doing so would appeal to potential buyers and lenders. If your house is well-maintained and you’ve made upgrades to boost the market value, you have nothing to worry about!

If you’re selling a house that needs repairs in Orlando, Tampa, Kissimmee, or the surrounding areas, Meli can help. Give us a call at (407) 338-4183 to schedule your walk-through and receive an offer.