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Ways to maximize my upcoming appraisal?
Posted on 8/15/12 at 8:04 pm
Posted on 8/15/12 at 8:04 pm
I'm in the process of doing a refi on my home mortgage. My appraisal will be scheduled in the next week or so. I know appraisal values are based primarily on the market and comps, but is there anything I can to help maximize that bottom line number?
My yard is immaculate at the moment. That's about the only that comes to mind right now.
My yard is immaculate at the moment. That's about the only that comes to mind right now.
Posted on 8/15/12 at 8:17 pm to Skin
Get it clean, touch up any blemishes.
Some appraisers have been known on refi appraisals to ask where you need to be at. Some don't. Maybe you can slip it in real slick like that you need to be at like X dollars for this thing to be worth it. It will be a decision you make upon meeting the appraiser. Some can get really pissed at this, some won't.
Some appraisers have been known on refi appraisals to ask where you need to be at. Some don't. Maybe you can slip it in real slick like that you need to be at like X dollars for this thing to be worth it. It will be a decision you make upon meeting the appraiser. Some can get really pissed at this, some won't.
Posted on 8/15/12 at 9:42 pm to cjared036
Put a bed in every room...don't you dare let the appraiser decide what a "bedroom" is.
Posted on 8/16/12 at 6:50 am to Skin
I just had one done, as my house appraised for the same value as it did 2 yrs ago (gross value was higher, but depreciation was also higher), even though we added hardwood floors in the LR (took up carpet) and Built a 16x22 extension in our patio and pergola over the top. The way he calculated the value, a patio was worth X no matter how big or how small, and he just took accounted for bedrooms & bathrooms, not any upgrades. I was pretty upset, but such is life.
Posted on 8/16/12 at 7:51 am to LSUGUMBO
They will mostly go off of comps in your area, unless you have something like a pool that might add value.
Posted on 8/16/12 at 8:11 am to Kingwood Tiger
quote:
unless you have something like a pool that might add value.
A pool adds absolutely no value whatsoever. It might even actually detract value from the house because with a pool you automatically decrease a certain set of buyers in the market as people are either yes or no to a pool. This will in turn increase the marketing time of the home which COULD affect the value. Depends on the comps, appraiser's opinion etc etc.
Posted on 8/16/12 at 12:40 pm to Skin
you really cant do anything to max your value it all depends on comps and sqft. upgrades mean nothing unless the house is a time warp from the 70's. I hate it when i talk to customers about there house and they go into every upgrade and lawn improvement and then they tell me what it should add to the value of thier house.then i have to break the truth off and it never goes good after that
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