What To Know About Real Estate Appraisal as a First-Time Seller

A clipboard that says "real estate appraisal" is held in front of a home

If you’re selling a home, there’s a good chance you’ve bought at least one home in the past. This means that you’re familiar with real estate appraisals. Often, appraisers are asked, what should I do to prepare for my inspection? The answer traditionally is – Nothing. But, the correct answer is – It Depends!

But if you’re new to selling, you should know that the appraisal process is different for the seller than it is for the buyer. You don’t have to just sit around and wait for a number. There are some things you should know before the appraisal process beings. Here are a few of them:

The Purpose of An Appraisal

If you want a certain amount of money for your house and a buyer is willing to pay it, why is an appraisal necessary? Well, most home sales will require a mortgage and, thus, a third-party lender. This lender will want to ensure that the agreed upon sale price is accurate and fair in an effort to protect its investment.

Make the Appraiser Aware of Any Upgrades

If you’ve done any recent renovations or upgrades to your home – such as new flooring, bathrooms, paint jobs, drywall etc., that can add to the value of your home. But the fact that this work was recently completed may not be immediately obvious to an appraiser. That’s why it’s important that you give them a list of work that’s recently been completed ahead of time. MORE IS ALWAYS BETTER. What does this mean? Give your appraiser or let them know all relevant information on the property. Give them a copy of your construction plans, print out a copy of your construction costs or renovation budget, give them a copy of your Survey. More is always better. Documentation is always better than assumptions.

Boost Curb Appeal

“Curb Appeal” is a slang word used by buyers and sellers and is not incorporated into the appraiser process. Curb Appeal cannot be quantified. However, if you have good curb appeal, it can never hurt. Conversely, bad aesthetics on your property that are easily curable prior to inspection is never a bad idea to treat. This doesn’t mean you have to make major investments like a new roof or siding. You can just clean up the exterior of your home, take care of the lawn, and make sure the landscaping is in good shape. Curb appeal does not improve or increase you value, but it is a great idea to treat your inspections similar to someone coming to visit your property as a potential buyer.

Find the Right Appraiser

When it comes to appraisers, you’re going to want one that has all the needed qualifications and knows your area well. In and around Auburn, AL, Atlas Valuation is the place to call. We can use our years of experience to help you get an accurate and objective appraisal. Call us today at 334 737-6993 to get started!

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