17 Jun Best Charlotte Home Appraisals with Fairway Independent Mortgage of the Carolinas!
A home appraisal is used to help lenders, buyers, and sellers come to an understanding of how much a home is worth, or its market value. Appraisers visually inspect the home and compare it to similar homes in the area. Throughout the appraisal they will research the neighbor crime rate, quality of schools, access to highways, public areas, etc., and take note of all features and issues throughout the home. Fairway Independent Mortgage of the Carolinas is here to make sure you are ready for your home appraisal!
Don’t feel great regret after getting an appraisal that’s too low, instead do more to plan and prepare beforehand. Here are some things that appraisers agree are very important for keeping the look, feel, and condition of the property as updated as possible.
1. Spruce Up The House: While dirty dishes might not hurt your home’s value, rats, insects, overgrown landscaping, soiled carpeting, and marked walls might. Appraisers want to see your house through the eyes of a potential buyer so clean your home as much as possible but keeping it convenient; store things you aren’t using on a regular basis.
2. Curb Appeal: Mow the lawn, trim the hedges, and control your landscaping. By doing this you can help offset your house from any unfair comparisons with nearby unkempt homes. In today’s climate, sprucing up the homes immediate visible condition cannot be stressed enough. Just spending a little time on the appearance of your home from the sidewalk can set your home apart.
3. Be Mindful of that Peeling Paint: Some agencies such as the FHA and VA, require that peeling paint be removed in houses built before 1978. Focus on things that might require a whole new paint job.
4. Keep A List Of All The Updates: Keep a list of all your notable features of the property and all updates done within the last 15 years; make sure to itemize each update with approximate date and cost. This will help you remember the items that an appraiser might not notice, especially the minor ones.
5. Focus on Returns: Don’t spend money that wont yield a return of the investment. The best things to spend money on are paint, carpets, light and plumbing fixtures. It is also important to prioritize what you do choose to spend money on. Appraisers often value homes in $500 increments, so if there is a repair costing more than $500 that can or should be made, it will count against the property.
6. Location: If anything in your neighborhood has changed for the better, it is important to share. If there is a new park, additional grocery stores, or if something has been declared a landmark, etc., let the appraiser know.
7. Make Your Appraiser Comfortable: Lock up your pets and have someone watching your children. Make the appraiser comfortable; if its cold out, put the heat on; if its hot out, put the A/C on – this will also help avoid the appraiser questioning if your unit is broken.
With all these things in mind, let the appraisers do their jobs. Save questions for the end and try not to interrupt because you don’t want them to miss anything. The appraisal is one of the most important steps in purchasing or selling a home. There are many factors that can significantly affect the value of your home so it is important to research your neighborhood and the best ways to boost your homes value with minimal cost and moderate effort.
To learn more about how inspections are conducted or to understand the lending process