![]() While it never hurts to tidy up, some homeowners worry that the odd dirty dish in the sink or a child's unmade bed will unfavorably tip the scales.Īn appraisal is all about how much your home could potentially go for if sold in its current condition. It's not an inspection of your home's upkeep. Third, understand what a home appraisal is not An evaluation of local comparables – Similar to a comparable market analysis, appraisers want points of reference to evaluate your home's value relative to similar properties in the area.A property inspection – Appraisers will still carry out inspections but only for the sake of establishing your home's worth.Second, get clear about what an appraiser will do to determine this value: This is less common but is a very similar approach taken by a mortgage lender on behalf of a home buyer. Also, it's important to point out that, while less common, some home sellers will get a "pre-market" appraisal to determine the value of their home if it's a unique property, has had substantial updates or consists of a large amount of acreage. Specifically, an appraiser is interested in reporting its market value. An inspection determines the condition of your house, whereas an appraisal establishes your home's value. Otherwise, you might get an answer you don't like!įirst, don't confuse an appraisal with a home inspection. How to Prepare for a Home AppraisalĪppraisals answer the all-important question: “ How much is my house worth?”Īs such, you should make every effort to prepare your house for an appraiser. To prepare for your appraisal, we've compiled a home appraisal checklist to make sure you're ready before you have your house valued by a professional. ![]() The goal of every seller is to sell for a premium purchase price, preserve as much equity and maximize the appraised value of the home.Īs a home seller, an appraisal will be done a few days (or up to a couple weeks) after a purchase agreement is signed. It goes without saying that you want to make as much back from the sale of your home as possible.
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