The entire real estate and mortgage market has changed with the economic
downturn. Changes are much more prominent in several aspects associated with
the real estate transaction, particularly home appraisals. The changes are
so effective that you could be prevented from buying a home or refinancing
your existing mortgage.
In order to get a fair valuation in a deal, you have to learn about several
aspects regarding home appraisals. The real estate market can be confusing
at times, and you need to get involved to learn about vital aspects like a
home appraisal. This will help you to get a fair deal and a more accurate
appraisal of your home.
Take a look at these five steps you can follow to get the best appraisal of
1. Check the familiarity of the appraiser with the your real estate market.
Make sure that your appraiser is completely aware of the home values in your
local area. No matter if you are in San Diego, New York, Dallas,
or any other part of US, the
appraiser must be familiar with the home values of the local area.
2. Be present during the appraisal
Make a point to remain
present during the appraisal of the property and also take your real estate
agent to the venue. There might be certain clarifications or questions from
the appraiser while he or she is appraising your property. Your presence and
the professional assistance of the real estate agent will be helpful in the
3. Provide a sales contract copy to the appraiser
must provide a copy of sales contract to the appraiser so the professional
is aware of any special provisions mentioned in the contract in respect to
furniture, equipments, etc.
4. Highlight the perks and location of your house
purchase a house not just because they wish to acquire an excellent
property, but also for the perks and facilities they can enjoy in nearby
areas. Therefore, you should highlight the location of the property and its
nearby facilities to get a good appraisal value.
5. Doing self-appraisal also helps
You must aim to get a
realistic estimation of your home’s value. Research the market by going
online or ask your local real estate agent about the probable value of your
property. You should get a fair estimate of your home value so that you can
understand whether the value generated by the appraiser is fair or not.