I stressed about the appraisal almost constantly for the entire next week!
We scrubbed the house from top to bottom...twice!
Going into it, I knew the value that http://www.zillow.com/ estimated and felt that it was probably a fair amount considering the local and national real estate economy. I was not sure if a profession appraiser would agree though!
Over the course of a week the estimate increased by $2,000.
The actual appraisal came in at exactly the same dollar amount as Zillow (before the increase). So either the increase was wrong, or the appraiser was just slightly conservative with his figures.
Tips to follow for a better appraisal:
1) If Zillow is available in your area, check it out - Zillow does not have market data for every residential area in the country, but most of them. It tracks recent purchases as well as homes currently for sale in the area and calculates an estimate of value for homes in the area. You can also use it to value homes when you are in the market for a new house.
2) Clean - Make sure your house is clean and tidy. Appraisers are looking for condition of the home and checking actual measurements. They are not looking to inspect your cleaning ability. However, an unkept house could signal that other maintenance issue are not being tended to as well.
3) Landscape - If you have weeds that need to be pulled...pull them! Its better to have them not notice them, than to draw their attention to the unsightly weeds growing along the edge of your house.
4) Pay Attention to the Details - After all the cleaning and tidying is done, walk around your house. Get down low, look up high. Notice those cobwebs and the dust on the baseboards and take care of it before the appraiser sees it!
5) Finish Projects - If you have any projects that you are doing around the house, finish them up. Consider delaying the appraisal so that you can finish them. If there are unfinished projects, the appraiser may assume there are other maintenance issues that have not been taken care of as well.
6) List Upgrades - Make a list of all upgrades you have made to the house, big and small. Don't assume you will remember them during the inspection! Trust me, you might not!
7) Don't Talk - Don't follow around the appraiser trying to talk to him/her. Let them do their work quietly. Answer questions when asked, but don't chit chat. They may miss something important in your house if they are busy trying to keep up with a conversation! Most importantly, don't tell them what you think the house is worth, or the amount you need it to be worth!
No comments:
Post a Comment