You have finally decided to sell your home and now that it is under contract, it is time to get the place appraised. A low home appraisal could mean losing thousands of dollars as well as a potential sale. So what will affect your home’s appraisal? Let’s talk about what an appraisal is and how you can improve yours.
What is a Home Appraisal and Who Pays?
Home appraisals are an educated guess on how much your property is worth. They are used by the lenders to assess how much money your home is worth and how much they are willing to lend the new buyers for it. A lender will use this appraisal to know that they won’t be losing money if they have to sell the property for money. The seller typically pays for the home inspection at closing. So before you hire someone, there are some things you can do to help get an appraisal in your favor.
How to Boost Your Home Appraisal?
The first step of getting a good appraisal is to hire someone from within your area. If the appraiser doesn’t know the area, the appraisal may not come back with a close amount of what the house is worth. If the lender doesn’t send someone local, try to supply information about your neighborhood like the schools, parks, and area recreation that could highlight the home. In your notes to the appraiser, make sure to mention updates you’ve done to the home including the kitchen and the bathrooms. Try to take some before-and-after photos and make a spreadsheet to show how much you have spent on your renovations. It is also important to make sure your home is perfect inside and out. Clean up your flower beds and make sure to touch up any peeling paint inside and out. Although you may be curious about the appraisal, try not to follow them around. Let the appraiser do their job without you watching closely. You’ll find out the results soon enough.
With these tips, your home appraisal will turn out fine and you will be moving out in no time! For more information on selling your home, call Clagett Enterprises today!
Home Appraisals with Clagett Enterprises
At Clagett Enterprises, we have extensive experience serving the greater Frederick area and Western Maryland, since 1987. Our team is a full-service real estate company that’s ready to help you with your real estate and residential sales needs. Speak with a Clagett professional at 301-665-6009, or request a proposal for preventive maintenance here.