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Started By
Message
Home appraisal help
Posted on 6/3/16 at 6:10 pm
Posted on 6/3/16 at 6:10 pm
Selling a house and the buyer has the appraisal set in a few days. Any tips on what to improve? What exactly determines the value?
11
Posted on 6/3/16 at 6:12 pm to JJBTiger2012
You are at the mercy of an appraiser.
If he decides to frick you then no one can help. The next appraiser just mimics whatever the prenvious said.
It is a sham business
If he decides to frick you then no one can help. The next appraiser just mimics whatever the prenvious said.
It is a sham business
Posted on 6/3/16 at 6:13 pm to JJBTiger2012
Make sure you have new toilet paper rolls in the bathrooms
Posted on 6/3/16 at 6:15 pm to JJBTiger2012
Not much you can do in a few days. hope you have some good comps for the price sold because they are so afraid to raise the value of an area these days..
Posted on 6/3/16 at 6:16 pm to JJBTiger2012
leave a bottle of really good scotch on the kitchen table with a thank you note to him
Posted on 6/3/16 at 6:25 pm to JJBTiger2012
Mow the lawn they just drive by
This post was edited on 6/3/16 at 6:26 pm
Posted on 6/3/16 at 6:29 pm to Cracker
Neither the buyer or seller has control over the appraisal. The bank giving you the loan has a list of NMLS approved appraisers. No one has contact with that person, thus protecting anyone from having influence on the value of the home.
Posted on 6/3/16 at 6:29 pm to JJBTiger2012
In my experience, the appraiser won't be looking at a place like a potential buyer would. Very little you can do a in a few days that would sway an appraiser, IMO. You could possibly spot paint some stains(if you have some leftover paint from the same lot), clean your gutters, make sure your doors open/ shut/ lock properly, and look for any loose mud like garden soil that is high on the slab or piers because they'll see that as a potential termite entryway. Generally though, they'll be looking for stuff you can't fix in 2 days, voltage/ grounding, temp at air vents, age of your HVAC, condition of the roof/ shingles, foundation, etc.
For the most part though, if the house is in decent condition, just keep it neat and make sure everything works that you can make work. It's just an overview of the general condition of the house, they're by no means some elite group of housing investigators...
For the most part though, if the house is in decent condition, just keep it neat and make sure everything works that you can make work. It's just an overview of the general condition of the house, they're by no means some elite group of housing investigators...
Posted on 6/3/16 at 6:35 pm to Cracker
quote:
Mow the lawn they just drive by
There's a big difference in the quality of appraisers but if I were a seller and an appraisal came in that I didn't like, I'd make sure another was done...
Posted on 6/3/16 at 6:37 pm to JJBTiger2012
quote:
Selling a house and the buyer has the appraisal set in a few days. Any tips on what to improve? What exactly determines the value?
the appraiser can only do so much
He can't just lower ur house value by 20K for shits and grins, and if your house has more value than his comparisons, it won't go down in price.
I know a few appraisers, they dont go out to screw home owners
Posted on 6/3/16 at 7:13 pm to JJBTiger2012
It's all about the comps. If there's anything at all you can do, it's do a little research and come up with some good comps in your area on your own that you can bring to their attention. Don't assume they will have seen them. Also, you can sometimes make a case that a comp they would not have necessarily used, should be, if it's within the realm of possibility. Doesn't hurt to ask. 99.999% of the appraisal process these days could be done without ever stepping into your house. It's stats.
Posted on 6/3/16 at 7:17 pm to lesserof2weevils
quote:
It's all about the comps. If there's anything at all you can do, it's do a little research and come up with some good comps in your area on your own that you can bring to their attention. Don't assume they will have seen them. Also, you can sometimes make a case that a comp they would not have necessarily used, should be, if it's within the realm of possibility. Doesn't hurt to ask. 99.999% of the appraisal process these days could be done without ever stepping into your house. It's stats.
This. Mow your lawn. Pick up the trash around your house.
Posted on 6/3/16 at 7:23 pm to stlslick
Every appraiser is different and a lot of times now they come in from markets different than yours and don't know what is hot or not. Most of the time they will apprise a house for what the contract states because the true value of a house is what a seller is willing to sell it for and what a buyer is willing to buy it for.
You should be good. Just get rid of the dead hookers before he gets there.
You should be good. Just get rid of the dead hookers before he gets there.
Posted on 6/3/16 at 7:43 pm to JJBTiger2012
Very simple. With all due respect to some of the posters, most of the responses are waaaay of base. Clean the house. Get rid of any junk on the outside so it photographs nice. Make a list of the updates performed in the last 15 years with an approximate total cost of the work completed. Work with your realtor to provide a short list of no more than 10-15 of the BEST comps. Don't go further than a mile away if your in the city. Make sure, if any comps sold cheaply in close proximity to you and they were distress sales, that the appraiser is made aware of the reason (Reo sale, divorce, short sale). That's all you can do. The rest is up to the appraiser.
Posted on 6/3/16 at 8:04 pm to TROLA
quote:
Not much you can do in a few days. hope you have some good comps for the price sold because they are so afraid to raise the value of an area these days..
Just sold my house for more than anyone in our neighborhood and was afraid it wouldn't appraise and he made it happen. FYI most appraisers will try and get it as close as he can to the selling price unless major issues are present
Posted on 6/3/16 at 8:18 pm to Canard Noir
[quote]In my experience, the appraiser won't be looking at a place like a potential buyer would. Very little you can do a in a few days that would sway an appraiser, IMO. You could possibly spot paint some stains(if you have some leftover paint from the same lot), clean your gutters, make sure your doors open/ shut/ lock properly, and look for any loose mud like garden soil that is high on the slab or piers because they'll see that as a potential termite entryway. Generally though, they'll be looking for stuff you can't fix in 2 days, voltage/ grounding, temp at air vents, age of your HVAC, condition of the roof/ shingles, foundation, etc.[/quote
This is more of what a home inspector does
This is more of what a home inspector does
Posted on 6/3/16 at 8:21 pm to Howyouluhdat
Yeah, I bought a house last year and got a deal on it, I knew the guy, sold it way under market to get rid of it(old guy). Son of a bitch appraiser comp'd 6 wood homes in flood areas with no central air.....to my brick home with central air no flood insurance required. Comp'd at the exact sale price, appraiser even noted that he saw the purchase agreement price prior to conducting the appraisal
Posted on 6/3/16 at 8:23 pm to lesserof2weevils
quote:
It's all about the comps. If there's anything at all you can do, it's do a little research and come up with some good comps in your area on your own that you can bring to their attention. Don't assume they will have seen them. Also, you can sometimes make a case that a comp they would not have necessarily used, should be, if it's within the realm of possibility. Doesn't hurt to ask. 99.999% of the appraisal process these days could be done without ever stepping into your house. It's stats.
Assuming your home is in good show condition the comparative home prices are the most important factor.
Posted on 6/3/16 at 8:41 pm to Kujo
Noted? They all have a copy of the purchase agreement.
Posted on 6/3/16 at 8:45 pm to JJBTiger2012
Have a list of any recent updates and/or improvements to the home or any of your systems.
That being said, it is going to be the overall condition of the home, living area and what similar homes in the area have sold for recently that will determine your appraised value.
That being said, it is going to be the overall condition of the home, living area and what similar homes in the area have sold for recently that will determine your appraised value.
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