We have gone iwth a different mortgage company, and now face an appraiser to come to view the property. We want to get the best. so what should we do to make our appraisal high??
2006-10-16 16:51:23 · 6 answers · asked by Too Curious 3 in Home & Garden ➔ Maintenance & Repairs
If it is a full appraisal....Valuations of all types of real property are conducted using similar methods,They note any unique characteristics of the property and of the surrounding area, such as a specific architectural style of a building or a major highway located next to the parcel. They also take into account additional aspects of a property like the condition of the foundation and roof of a building or any renovations that may have been done. Additionally, they may take pictures to document a certain room or feature, in addition to taking pictures of the exterior of the building. After visiting the property, the appraiser or assessor will determine the fair value of the property by taking into consideration such things as comparable home sales, lease records, location, previous appraisals, and income potential. They will then put all of their research and observations together in a detailed report, stating not only the value of the parcel but the precise reasoning and methodology of how they arrived at the estimate.
A great resource is the book "101 cost- effective ways to increase the value of your home" by Steven Berges
Good Luck!!!
2006-10-16 17:06:53 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Good question, most refinance and home equity companies use their own appraisers to ensure your home is more valueable than what it really is. This is avery common practice which I believe, should be against the law. but what you do is get your home looking it's very best. Clean dishes out of sink, mow the lawn fix repairs fresh paint is always a good idea.
2006-10-17 01:26:52 · answer #2 · answered by ? 2 · 0⤊ 0⤋
Some appraiser do a drive by and some come in and look/ They want to see how structurally sound it is, the number of bedrooms and baths, if it would be in resale able shape should you default. A view always helps. Outdoor features like ponds or waterfalls. Closeness to schools and shopping.
2006-10-16 17:02:55 · answer #3 · answered by CatLady 2 · 0⤊ 1⤋
1. Replacement costs
2. Comparable sales in the area
3. General "state" of neighborhood (location, roads, sidewalks,
condition of neighboring hses, etc)
These are the 3 main criteria used by an appraiser.
Appraisers are extremely "clinical" - they are not influenced by nice decor, etc.
If you give driving directions to your home, be sure to route the appraiser down the most attractive roads!
Good Luck!
2006-10-17 03:14:37 · answer #4 · answered by OShenandoah 3 · 0⤊ 0⤋
Square footage, condition of house....Size of Lot, Bath rooms, closets, carpeting and floors... The entire house will be inspected...
2006-10-16 16:57:32 · answer #5 · answered by Anonymous · 0⤊ 0⤋
ALL STANDARD STUFF, CONDITION OF HOUSE, COMPS IN AREA ETC....
2006-10-16 16:54:34 · answer #6 · answered by Bonno 6 · 0⤊ 1⤋