7 tips when getting your home appraisal

Whether you’re a seller hoping to get top dollar for your property, a buyer eager to have a lender sign off on a loan or a homeowner wishing to complete a cash-out refinance, getting more bang for your buck out of a home appraisal is key.

Low ball appraisals can kill deals but fortunately there’s a lot you can do to help boost the appraised value of a particular property.

First and foremost it’s important to remember that appraisers are just people, too. Don’t presume they’ll use their professional experience to look past dirty dishes or children’s toys scattered across the back yard. First impressions matter just as much with your appraiser as they do with potential buyers. Always do your best to maintain the look and feel of your home as clean and cared for as possible.

Here are 7 sure-fire tips for increasing the value of any home appraisal.

1 – Imagine your mother-in-law’s coming over for dinner.

While you don’t need to do the same type of deep cleaning required to show your property for an open house, it’s important to spruce things up before your appraiser arrives.

It’s okay for your house to look lived in, but certain things like carpet stains, signs of insects or rodents, overgrown landscaping or junk piles in the yard will affect the overall rating of your home.

If your house looks uncared for your appraiser may start to wonder if a lack of attention to maintenance issues are present as well.

2 – Don’t be ashamed to brag.

If you’ve made updates and improvements to your home over the years it’s a good idea to detail these upgrades in a report and hand this list over to your appraiser. Homeowners who have had Extensions put in their home can increase their home’s value if they detail the improvements that they’ve made.

Remember, part of the appraisal process is looking at your home’s previous sale price and comparing the property to similar houses (or comps) in the neighborhood. If you’ve added an extra 500 square feet that the records don’t show, you’ll want this fact rectified and taken into consideration.

The same goes for updates. If your home was built in 1975 but you gutted and replaced the electrical, plumbing and heating systems in 2010, this is something that the appraiser ought to know.

3 – A comp in the hand is worth two in the bush.

It’s your appraiser’s job to find accurate comparable properties that have recently sold, but it never hurts to hand over a list of comps that makes your place look good.

Don’t try to fool the appraiser with comps that are clearly for dissimilar properties, but letting the appraiser know that you’re aware of how the game is played will make it less likely they try to pull a fast one and unnecessarily downgrade the value of your home.

4 – Break out the weed eater.

Curb appeal matters. It really does. Mow the lawn, pull those weeds and get to work with that edger. Freshen up potted flowers by the door; and replenish the flower beds.

Giving your landscaping the extra edge is especially important if other homes have foreclosed in your neighborhood. You want to distinguish your property and make it stand out on the day the appraiser is set to arrive.

5 – Peeling paint has got to go.

Most Realtors can’t stress enough that a fresh coat of paint provides more ROI than any other home improvement. Not only will a fresh new look yield a higher appraisal, but you’ll also be more likely to sell the home more quickly at a price closer to what you’re asking.

6 – Talk up that neighborhood.

Location. Location. Location.

Let the appraiser know if there have been any recent upgrades to the neighborhood that they may not be aware of.

New schools? Refurbished parks? From better shopping to a successful neighborhood watch, talk up your neighborhood and let your appraiser know why it’s such a great place to live.

7 – Make the appraiser comfortable.

Don’t schmooze or try to unduly influence your appraiser.

Do turn on the A/C or heating, offer something to drink and keep small children or pets out of the appraiser’s hair.

Don’t be shy.

If you’re a buyer and the house you’re looking to close on could use a little TLC prior to your lender’s appraisal, don’t be afraid to suggest to the seller that they do a little tinkering to put their best foot forward.

After all, it’s better to risk hurting someone’s feelings than to risk having the bank stamp “declined” on your loan application.

Don’t forget, you could also use a home value estimator tool to get a good starting point for the value of your home before going to an agent.