You've carefully staged your home and had it photographed. Your real estate agent has listed it and buyers are interested. You may already have an offer on the table. Before everything is said and done, however, your buyer will likely request a real estate appraisal. This is to ensure that the listing price is close to the actual market value of the home so that there won't be any issues with their mortgage. Here are three real estate appraisal tips for sellers:
Work With an Experienced Real Estate Agent
Appraisals tend to go smoothly and not lead to any unpleasant surprises as long as you have been working with an experienced and trustworthy real estate agent. A less experienced agent may not be as skilled at analyzing the comparable home sales in your area to list your home at an accurate price.
If there is a large discrepancy between what the home is listed for and the appraisal amount, you may risk your sale falling through. This is significantly less likely to happen when working with a real estate agent who is a true expert in the local real estate market.
Tidy Up Your Home For the Appraiser
While home appraisers mostly rely on facts when putting together an appraisal amount, they are still human beings and may be influenced at least to an extent by how they feel when visiting your home. You should have your home as tidy and presentable when the appraisal is scheduled as you would when showing the home to prospective buyers.
While removing clutter and cleaning, don't neglect the outside. Your real estate appraiser will need to inspect your yard and patio as well as the perimeter of your home.
Gather Documentation For All Improvements
Any improvements or renovations you've made to the home will factor into the real estate appraisal and help boost the value listed on the appraisal. Before the appraisal, spend some time compiling a list of all improvements. Then, gather receipts and other documentation, and organize everything neatly so that the appraiser can easily scan the details.
You should include documentation for any new appliances, new HVAC systems, new windows, landscaping, or any other specific improvements you've made since purchasing your home.
Getting a real estate appraisal done is an important part of most home selling processes. By following these real estate appraisal tips, you will help ensure that your appraisal goes smoothly.