Worried If Your House Appraise For Its Selling Price? Here Are 10 Tips On How To Avoid A Low Valuation

Getting your home appraised is all part of the selling process.  But it can be nerve-wracking waiting to see how much your house will appraise for. Here are 10 tips to avoid a low appraisal valuation.  

1. Make a list of features and improvements

The appraiser will research your property and pull permits, but you can provide documentation of improvements you’ve made.  For instance, if you had the air conditioner updated or ceiling fans installed recently these should be documented for the appraiser.  

2. Provide maintenance records

Give the appraiser receipts, renovation records, and before-and-after photos that prove you have regular maintenance on necessary parts of your home.  

3. Get a comparative market analysis

A comparative market analysis is a list compiled by your real estate agent of sales of homes similar in age, size, and style that are within a one-mile radius of your home.  This will show the appraiser the averages around you and where your house should be priced.  

4. Get a pre-listing appraisal

If you have a unique property get a pre-listing appraisal so that you have an easy price option that indicates a value range for your home.  

5. Ensure the appraiser is qualified

Independent appraisals are requested by the buyer’s lender.  Make sure the appraiser has a designation from a recognized professional appraiser organization and is licensed or certified by the state.

6. Provide a list of comps

Your real estate agent should prepare a pack of useful information for the appraiser.  This should include recent comps in your neighborhood.

7. Share your information

If you get a pre-listing appraisal, share your documentation with the appraiser to help them with their research. 

8. Clean and Declutter

Do a deep clean and declutter that consists of painting, power-washing, curb appeal updates, and depersonalization.  These will ensure your home appears well kept. 

9. Learn about loan requirements

FHA and VA loans have stricter appraisal requirements that could require more updates from you.  Be sure to review these loan requirements if your buyer is using either of these loans. 

10. Challenge if necessary

Your agent should request a copy of the appraisal report from the buyer’s agent.  If there are inaccuracies, missed features, or incorrect information, your agent can contact the lender with documentation to dispute the claims through a reconsideration of value. 

By HomeLight Homes

Sharing is caring!