A key aspect of the home buying and selling process is obtaining a home appraisal. A home appraisal is secured to estimate market value and can be quite complex. Recently there has been a change in the home appraisal process, resulting in more regulation.
Depending on the type of loan the buyer is getting, the property’s condition requirements could vary and some of these items are determined by the appraiser. A real estate agent can help you prepare your home to help meet some of these requirements. Many things can effect the appraisal including any needed repairs that might be required by the lender to close the transaction.
When selling your home, know that the appraisal can affect the home sales price. Know that “Comps” are simply market comparisons that reflect other homes that have sold in your neighborhood, zip code, and area.
Next, look at your home as though you were a home buyer, as checking that your home appears well-maintained is vital. Spend some time cleaning the home entrance and painting as necessary to spruce up the entry, making your best first impression. The rest of your home should be clean and clutter-free, as well. It may take up to several weeks for the whole process to be completed.