Whether you're buying a home or selling one, if you're unsure of the true value of a home then you will need to get a home appraisal. Even if you are planning on refinancing your mortgage, your lender will most likely require a home appraisal. In preparation of an appraisal there are a few things you need to be aware of before the appraisal takes place.
First you'll need to find an appraiser and the one you choose will depend on the purpose of the appraisal. If you are having a home you're interested in buying then select an independent appraiser that's not associated with the seller. Also, make sure that the appraiser has great experience and is one that's recommended. If you know some friends who have used an appraiser before then ask them if they have any recommendations. If on the other hand you need an appraisal of your home in order to refinance your mortgage then most likely your lender will decide which appraiser will be used.
Next, take the time to clean your home before the inspection such as cleaning the yard, removing stains in the driveway and even doing some repainting if needed.
Before the appraiser comes to your home be sure to compile a report all of the home improvements you've made since you've been in the home including both the inside and the outside such as upgraded fencing or a driveway expansion just to name a few. Then present this information to the appraiser when they show up to do the appraisal which will provide them proof that the value of your home has not declined.
Many times people are unsure what the appraiser will inspect. First of all the appraiser will look into the average price of other homes in your neighborhood. They'll also compare your home to similar properties available statewide in order to determine its value. There's a good chance that the appraiser will also take photos of your home both the inside and out. So make sure you've put the laundry away.
Regardless of who hires the appraiser, you or your lender, you will be the one to pay for the appraisal. An appraisal can cost as much as several hundred dollars.
A word of caution: it's recommended that you don't follow the appraiser around during their inspection and pressure them to provide a better value for the home. They don't like that very much and besides, the appraisal can take anywhere from a couple of days to a couple of weeks to complete including writing the report.