What do real estate apprasers really look for in a home?

Question

what things do i need to worry about and not to worry about. Paint? Carpet? Windows?

Answer 1

It really matters where the property is.

For example, in many areas of California, the land is worth far more than the house. So, the condition of the house is far less important than the location of the land.

The term for the items you listed are categorized under "deferred maintenance" if they are in need of repair or replacement. Items such as those rarely result in a deduction of value of more than $5,000 (in Southern California).

Are you selling? Are you trying to "cash out" equity?

Answer 2

The appraiser is mostly concerned with the location and the "bones" of the house, i.e., structure, age, kitchen/baths (updated or not) and overall condition such as roof, wood rot, etc. He will take into consideration the condition of the carpet, paint and windows, but since these items are more aesthetic than structural, the consideration is less. If the carpet is really dirty, the cheapest way to overcome that is a quick steam clean and as far as the windows, if you're concerned with the working condition, he's not going to open/close them. And the paint, well that will fall into the general condition category.

Answer 3

If you are having a full appraisal completed the appraiser is verifying habitability for the lender and taking measurements of rooms and other dimensions in order to ensure proper comparable properties. Cosmetic things like a crappy paint job or that awful floral wallpaper are not necessarily taken into consideration. Major things like the structure, electrical and plumbing need to be done.

Answer 4

How much other houses in your zip code sold for of equal value.

Answer 5

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