What to Do Before Home Appraisal

You already made the necessary renovations to increase your home's market value, and you even had it inspected before you started just so you'd know which areas needed improving. But the home inspection is different from an appraisal, and the latter is what you need in order to raise the selling price of your property.

What you need to know about home appraisals:

If your home's appraisal value is low, you will have to ask for a lower price for your home in order to sell it, because lenders don't really approve loans for a home that costs more than it's worth. Every smart buyer would know not to overpay for a home, after all. The sad part is that the whole area is considered in appraisals. If you live near foreclosures and short sales, chances are that your property value will be significantly lowered as well. To convince the appraiser that your home is worth more than the surrounding properties, you have to show them that your property is in better condition.

So, what steps can you take in order to raise its value?

It lies in the details

Gather the necessary documents, and make sure they are detailed. The most useful ones that will help your appraisal are the following:

  1. Land survey – because it's not always apparent and this is needed to determine the size of the property
  2. Proof of most recent selling price of your property – for your appraiser to compare prices to
  3. Items included in the sale – because larger, up-to-date appliances add value
  4. List of recent improvements and their respective costs – for baseline assessment
  5. Home inspection reports – to help appraisers make accurate judgement
  6. Home-owners association rules – for additional information on the community
  7. Property tax bills – because they are important legal matters

Always in working order

Make sure that everything works – electricity, plumbing, even hinges and knobs. Buyers and appraisers will be hands-on while checking your place, so you have to keep everything in working order to make your property stand under the best light.

Before the appraisal property, take all the necessary steps in order to get the best possible value. After all, buyers don't want to overpay, but you don't want to sell your house for less than it's worth, either.

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