Ways Sellers Can Improve Their Home Appraisal

In today’s real estate market, selling a home can have its complications. One hurdle which can make or break the deal is the appraisal. Home appraisals are based on recent sales prices of comparable properties. And in rising price markets, those sales prices might not be high enough to support new home sale prices. Here are some ways sellers can improve their home appraisal.

• Make sure the appraiser knows the neighborhood. Sellers can request that the lender send a local appraiser; if that still doesn’t happen, owners should supply as much information as possible about the quality of the neighborhood.
• Provide your own comparables. Sellers should provide the appraiser with at least three solid and well-priced comparable properties. This will save the appraiser some work, and ensure that he or she is getting price information from homes that really are similar to the one being appraised.
• Document home improvement projects. Sellers should provide before and after photos, along with a well-defined spreadsheet of what was spent on each renovation, which should persuade an appraiser to turn in a number that far exceeds what he or she first called out. It’s important to highlight all-important structural improvements to electrical systems, heating and cooling systems – which are harder to see, but can dramatically boost an appraisal. Showing receipts also may be helpful.
• Your real estate professional should always meet with the appraiser when the value of a property is in question to aid the appraiser in supporting the offered price.

When selling your home, leaving your home’s value up to one opinion (the appraiser’s) could lead to added complications and even disaster. It is always best to provide far more information than needed to prevent a low appraisal from happening in the first place.

What other ways could a seller help the appriaser with value? Share your thought!