[et_pb_section fb_built=”1″ _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”55px||||false|false” da_disable_devices=”off|off|off” global_colors_info=”{}” custom_margin__hover_enabled=”off|desktop” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” width=”95%” max_width=”100%” custom_margin=”||-24px||false|false” custom_padding=”55px||||false|false” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][wahi_breadcrumb _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][wahi_breadcrumb-link title=”Real Estate 101″ _builder_version=”4.18.0″ _dynamic_attributes=”link_option_url” _module_preset=”default” link_option_url=”@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9saW5rX3VybF9wYWdlIiwic2V0dGluZ3MiOnsicG9zdF9pZCI6IjcyMiJ9fQ==@” global_colors_info=”{}”][\/wahi_breadcrumb-link][wahi_breadcrumb-link title=”Sell” _builder_version=”4.18.0″ _dynamic_attributes=”link_option_url” _module_preset=”default” link_option_url=”@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9saW5rX3VybF9wYWdlIiwic2V0dGluZ3MiOnsicG9zdF9pZCI6IjIxMDYifX0=@” global_colors_info=”{}”][\/wahi_breadcrumb-link][wahi_breadcrumb-link title=”@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF90aXRsZSIsInNldHRpbmdzIjp7ImJlZm9yZSI6IiIsImFmdGVyIjoiIn19@” _builder_version=”4.18.0″ _dynamic_attributes=”title” _module_preset=”default” module_text_color=”#686E6E” global_colors_info=”{}”][\/wahi_breadcrumb-link][\/wahi_breadcrumb][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”12px||12px||false|false” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.18.0″ _dynamic_attributes=”content” _module_preset=”default” header_font_size=”3.5rem” header_line_height=”4.5rem” header_font_size_tablet=”42px” header_font_size_phone=”3rem” header_font_size_last_edited=”on|phone” header_line_height_tablet=”4.5rem” header_line_height_phone=”3.2rem” header_line_height_last_edited=”on|desktop” global_colors_info=”{}”]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF90aXRsZSIsInNldHRpbmdzIjp7ImJlZm9yZSI6IjxoMT4iLCJhZnRlciI6IjwvaDE+In19@[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”||9px|||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][wahi_socialsharing _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][\/wahi_socialsharing][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”6px|||||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.18.0″ _module_preset=”default” text_font_size=”24px” text_line_height=”1.5em” custom_margin=”||32px|||” global_colors_info=”{}”]<\/p>\n
Getting ready to sell your home? From getting your home ready for an appraisal to factors that could affect it, here\u2019s what you need to know.<\/span><\/p>\n<\/div>\n<\/div>\n [\/et_pb_text][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” text_font_size=”1.13rem” text_line_height=”1.18rem” custom_margin=”||5px|||” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]By Emily Southey<\/a> | 15 minute read[\/et_pb_text][et_pb_post_title title=”off” author=”off” date_format=”M j” categories=”off” comments=”off” featured_image=”off” _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_post_title][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” width_tablet=”” width_phone=”100%” width_last_edited=”on|phone” max_width_tablet=”” max_width_phone=”100%” max_width_last_edited=”on|phone” custom_padding=”21px||||false|false” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9mZWF0dXJlZF9pbWFnZSIsInNldHRpbmdzIjp7fX0=@” align=”center” force_fullwidth=”on” _builder_version=”4.18.0″ _dynamic_attributes=”src” _module_preset=”default” custom_padding=”2px|||||” border_radii=”on|32px|32px|32px|32px” border_radii_tablet=”on|32px|32px|32px|32px” border_radii_phone=”on|0px|0px|0px|0px” border_radii_last_edited=”on|phone” global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”||5px|||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.18.0″ _module_preset=”default” text_font_size=”21px” text_line_height=”1.6em” header_2_font=”||||||||” header_2_font_size=”36px” header_2_line_height=”1.3em” header_3_font_size=”1.25rem” header_3_line_height=”1.88rem” header_4_font=”|700|||||||” header_4_font_size=”1.25rem” header_4_line_height=”1.88rem” global_colors_info=”{}”]<\/p>\n Whether you\u2019re buying or selling a home, a home appraisal may be a key part of the process. Therefore, it\u2019s important to know what house appraisers look for and how to prepare your home for an appraisal to ensure it goes smoothly. Continue reading to learn all there is to know about house appraisals.\u00a0<\/p>\n –<\/span><\/p>\n First things first, what is a home appraisal? An appraisal is a process by which a professional home appraiser determines the value of a home. Home appraisers provide an impartial and unbiased judgment on the value of the property, and they do this by visiting and inspecting your home. An appraisal is useful in many circumstances, such as if you\u2019re selling a home, buying a home with a mortgage, or refinancing your existing mortgage. The purpose of a home appraisal during the homebuying process is to find out if the home\u2019s listing price is appropriate given its condition, location, and features.<\/p>\n [\/et_pb_text][et_pb_text _builder_version=”4.18.0″ _module_preset=”default” text_font_size=”21px” text_line_height=”1.6em” header_2_font=”||||||||” header_2_font_size=”36px” header_2_line_height=”1.3em” header_3_font_size=”1.25rem” header_3_line_height=”1.88rem” header_4_font=”|700|||||||” header_4_font_size=”1.25rem” header_4_line_height=”1.88rem” locked=”off” global_colors_info=”{}”]<\/p>\n The home appraisal process begins when a party involved with the home sale contacts a home appraiser to schedule an appointment. On the date of the visit, the appraiser will arrive at the property and spend roughly one to two hours inspecting the interior and exterior of the home. They will also measure the home\u2019s square footage and assess the amenities and fixtures of the home, as well as its floor plan functionality and the number of bedrooms and bathrooms. An appraiser may also compare the home to other comparable homes in the neighbourhood.<\/p>\n <\/p>\n As the appraiser makes their way through a home, they will note any conditions that negatively affect the value of the property, such as items that need repairs. All of this information will then be compiled into the appraisal report, which will be delivered to all relevant parties within a few days.<\/p>\n <\/p>\n Typically, most home appraisers are licensed or certified and must be impartial (that is, they cannot have any direct interest in the transaction). The cost of home appraisals varies and is typically paid for by the buyer\/borrower.<\/p>\n <\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.18.0″ _module_preset=”default” background_color=”#edf7f3″ custom_padding=”32px||32px||true|false” da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.18.0″ _module_preset=”default” header_2_text_align=”center” header_2_text_color=”#38505b” header_2_font_size=”2.63rem” header_2_line_height=”3.75rem” max_width=”800px” module_alignment=”center” header_2_font_size_tablet=”32px” header_2_font_size_phone=”27px” header_2_font_size_last_edited=”on|phone” header_2_line_height_tablet=”3.75rem” header_2_line_height_phone=”32px” header_2_line_height_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”||24px||false|false” da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.18.0″ _module_preset=”default” text_font_size=”21px” text_line_height=”1.6em” header_2_font=”||||||||” header_2_font_size=”36px” header_2_line_height=”1.3em” header_3_font_size=”1.25rem” header_3_line_height=”1.88rem” header_4_font=”|700|||||||” header_4_font_size=”1.25rem” header_4_line_height=”1.88rem” locked=”off” global_colors_info=”{}”]<\/p>\n An appraisal report is a detailed analysis of the home appraiser\u2019s findings. It will describe the home\u2019s interior and exterior, the neighbourhood, and comparable nearby sales. Based on the appraiser\u2019s observations, the end of the report will feature a conclusion on the property\u2019s value according to their observations described previously.<\/p>\n <\/p>\n Typically, most appraisal reports include the following:<\/p>\n [\/et_pb_text][et_pb_text _builder_version=”4.18.0″ _module_preset=”default” text_font_size=”21px” text_line_height=”1.6em” header_2_font=”||||||||” header_2_font_size=”36px” header_2_line_height=”1.3em” header_3_font_size=”1.25rem” header_3_line_height=”1.88rem” header_4_font=”|700|||||||” header_4_font_size=”1.25rem” header_4_line_height=”1.88rem” global_colors_info=”{}”]<\/p>\n After receiving the appraisal report, we advise all sellers to consult with their REALTORS\u00ae, especially if the appraised value differs significantly from the listing price. In the event that the appraiser assigns a low value to your property, a buyer might use this as leverage to negotiate. If you\u2019re working with a REALTOR\u00ae, let them handle the buyer. However, if you\u2019re selling your home without a REALTOR\u00ae, you may need to negotiate directly with the buyer on how to handle the difference.<\/p>\n [\/et_pb_text][et_pb_text _builder_version=”4.18.0″ _module_preset=”default” text_font_size=”21px” text_line_height=”1.6em” header_2_font=”||||||||” header_2_font_size=”36px” header_2_line_height=”1.3em” header_3_font_size=”1.25rem” header_3_line_height=”1.88rem” header_4_font=”|700|||||||” header_4_font_size=”1.25rem” header_4_line_height=”1.88rem” locked=”off” global_colors_info=”{}”]<\/p>\n Below is a home appraisal checklist revealing what appraisers look for when determining the value of a home:<\/p>\n –<\/span><\/p>\n Now that you know what a home appraisal is, you may be wondering which factors can impact a home appraisal. Below are some of them.<\/span><\/p>\n [\/et_pb_text][et_pb_text _builder_version=”4.18.0″ _module_preset=”default” text_font_size=”21px” text_line_height=”1.6em” header_2_font=”||||||||” header_2_font_size=”36px” header_2_line_height=”1.3em” header_3_font_size=”1.25rem” header_3_line_height=”1.88rem” header_4_font=”|700|||||||” header_4_font_size=”1.25rem” header_4_line_height=”1.88rem” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.24.2″ _module_preset=”default” min_height=”35px” custom_padding=”0px||0px||true|false” da_disable_devices=”off|off|off” global_module=”1002″ saved_tabs=”all” locked=”off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”54px||48px|||” da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.18.0″ _module_preset=”default” text_font_size=”21px” text_line_height=”1.6em” header_2_font=”||||||||” header_2_font_size=”36px” header_2_line_height=”1.3em” header_3_font_size=”1.25rem” header_3_line_height=”1.88rem” header_4_font=”|700|||||||” header_4_font_size=”1.25rem” header_4_line_height=”1.88rem” locked=”off” global_colors_info=”{}”]<\/p>\n As you now know, a home appraisal can be a useful tool in determining the value of a home. However, home appraisals can be double-edged swords for sellers. If a home appraisal is ordered by the seller before their home is put on the market, it can help them determine an appropriate listing price. But if the appraisal is done after, conducted at the behest of a prospective buyer, and the appraised value ends up being less than the listing price, the seller might need to reduce their price. If you find yourself in the latter situation, another option is to hold out for a cash buyer who will close the deal without a home appraisal contingency, but this can significantly prolong the selling process.<\/p>\n –<\/span><\/p>\n If the appraised value of your home is lower than expected but you don\u2019t want to reduce your selling price, you can hire a second home appraiser to evaluate the property in case they assign a higher value to it. You could also contact the previous appraiser if you believe that your home was undervalued due to nearby foreclosures or short sales. If you can convince the appraiser that your property is in far better condition than comparable homes in the area, they might agree to raise the appraised value. One final option is to complete some repairs or renovations to increase the appraised value of the home.<\/p>\n [\/et_pb_text][et_pb_text _builder_version=”4.18.0″ _module_preset=”default” text_font_size=”21px” text_line_height=”1.6em” header_2_font=”||||||||” header_2_font_size=”36px” header_2_line_height=”1.3em” header_3_font_size=”1.25rem” header_3_line_height=”1.88rem” header_4_font=”|700|||||||” header_4_font_size=”1.25rem” header_4_line_height=”1.88rem” locked=”off” global_colors_info=”{}”]<\/p>\n Many factors can impact a home appraisal. Luckily, knowing what these factors are can help you ensure your home appraisal goes as smoothly as possible. As a seller, preparing for a home appraisal is critical, especially if you want the appraised value to be as high as possible. Continue reading for a list of tips on how to get your home ready for a home appraisal.<\/p>\n \u00a0–<\/span><\/p>\n Our first tip to prepare for a home appraisal is to be flexible when it comes to scheduling. In a hot real estate market, home appraisers are likely to be booked up weeks in advance. To have an appraiser visit your home and write the appraisal report can take upward of a month. Therefore, if you want to put your home on the market as quickly as possible or move forward with a home sale transaction, try to work around the appraiser\u2019s schedule.<\/p>\n <\/p>\n Although it\u2019s the home appraiser\u2019s job to research the local housing market and comparable home sales in your area, as a seller, it couldn\u2019t hurt to do some independent research into the market. Plus, if you have a rough idea of the market value of your home, you can mention this to the appraiser when they arrive, as well as provide them with the information or documentation that led you to reach this calculation.<\/p>\n <\/p>\n <\/span><\/p>\n The more information you can give the home appraiser about your property, the better. For this reason, we recommend making a list of any and all improvements you\u2019ve made to the home and when they were completed. While home appraisers are experts in their field, there are certain improvements they may not be able to tell from a simple visual examination (for example, if you recently replaced the AC unit or had a deck installed in the backyard last summer). If you\u2019ve made a list of improvements to show them in advance, it can help confirm the value of those improvements in the mind of the appraiser.<\/p>\n \n <\/span><\/p>\n Another way to prepare for a home appraisal is to research comparable home sales in your neighbourhood. Again, a home appraiser will conduct their own research on comparable sales, but it certainly doesn\u2019t hurt to do your own research, especially as someone who knows the area well. You can then present your research (and supporting documentation) to the home appraiser when they arrive.<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.18.0″ _module_preset=”default” background_color=”#f0faf4″ min_height=”334.8px” custom_padding=”3px||0px|||” da_disable_devices=”off|off|off” global_module=”849″ saved_tabs=”all” locked=”off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.20.2″ _module_preset=”default” height=”1px” custom_padding=”0px||0px||false|false” locked=”off” global_colors_info=”{}”][et_pb_column type=”4_4″ admin_label=”Column” _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_button button_text=”post popup button” button_alignment=”right” module_id=”dipi_popup_id_295151″ _builder_version=”4.20.2″ _module_preset=”default” positioning=”absolute” horizontal_offset=”-10000000px” z_index=”-1000000″ global_colors_info=”{}”][\/et_pb_button][et_pb_code _builder_version=”4.24.2″ _module_preset=”default” global_colors_info=”{}”]Home Appraisal Definition<\/h2>\n
Home Appraisal Process<\/b><\/h3>\n
\u201cAn appraisal report is a detailed analysis of the home appraiser\u2019s findings. It will describe the home\u2019s interior and exterior, the neighbourhood, and comparable nearby sales.\u201d<\/h2>\n
Appraisal Report<\/b><\/h3>\n
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Home Appraisal Checklist<\/strong><\/h2>\n
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Surprising Factors that can Affect a Home Appraisal<\/b><\/h3>\n
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What Home Sellers Need to Know About Appraisals<\/strong><\/h2>\n
Getting Home Ready for Home Appraisal<\/strong><\/h2>\n
1. Be flexible when scheduling a home appraisal<\/b><\/h3>\n
2. Research the market value of your home<\/b><\/h3>\n
3. Make a list of completed improvements<\/b><\/h3>\n
4. Research comparable sales in your area<\/b><\/h3>\n