Sometimes it’s not just potential buyers that need to be sold on your listing – the appraisal coming in at the right price is often critical for financing and ultimately closing the deal. Here’s how you can translate your sales process to the appraiser:
1. Be Prepared With Comp Information
Pull a list of comparable home sales around your listing and use any insider information you have to explain why some homes may have sold for less. If your listing is in an area with a lot of foreclosures, it will of course bring down the value of your listing. But, if the market value is being tainted by a unique circumstance or two, making sure the appraiser knows why a home had to sell for less can help protect the home’s real value.
2. “My House Is Awesome” Fact Sheet
We do a great job letting potential buyers know about all the upgrades and cool features of a listing, but do we share that information with the appraiser? If the homeowners have made upgrades, repairs, and improvements, don’t assume the appraiser will notice. This may be as simple as giving the appraiser the flyer for the home, which should also list the structural facts about the home. Sometimes misinformation can hurt an appraisal, too, so it is important that the appraiser has a fact sheet flyer with all of the correct information and other improvement information right at their fingertips. You may even consider making a custom flyer just for your appraiser.
3. Treat your appointment with the appraiser just like an open house
The appraiser is going to look for indications that reveal whether or not the home is well-maintained, which can certainly help or hurt your appraisal. If the home is dirty, cluttered, or if basic repairs (e.g. torn screen window, etc.) have not been made, it may leave doubt about other more significant maintenance issues. So, just like an open house, make sure the home is at its best inside and out.
May all your appraisals come in just where you want them. Good luck!
– RealtorMonkey Team