Home Appraisals 101

Home Appraisals 101

Home Appraisals 101 - One of the most important part of in selling your home is getting a fair home appraisal. This is a tricky part since home prices change and may even turn off buyers if the property is appraised lesser than the purchase price. So here are some tips for home sellers to make sure you are getting a fair home appraisals.

1. Research your neighborhood's recent sales.

Do your homework by researching on recent sales in your neighborhood. Even finding out the causes of these sales in your neighborhood can be an important factor as they can affect the price of the sale. After your research, forward all these information to the appraiser.

2. Prepare your Home.

We are always told that appraisal is not based on your home's appearance, but it still affects the total score. So make sure that your home is spotless, clutter-free and has received all its needed improvements before the appraiser's visit. Exactly how you would set up your home before an open house.

3. Provide the features of your home.

Most appraisers will not always know all of the features of your home so it is a good thing to pro-actively provide it before appraisal. They are mostly looking for the following features:

• any improvements, renovations or upgrades
• new landscaping
• any custom materials such as granite counter tops or high-end woodwork
• easy access to public transportation, shopping, dining, or entertainment
• the quality of the schools in the area

4. Ask questions.

After the appraisal, request a final copy of the appraisal and review it carefully. If you find any errors or think the appraisal value is too low, don’t be afraid to ask for explanation. You can also consult a mortgage professional.For more information about the process, you may call Lora Reynolds, Broker Owner of Indy Homes Realty Group, LLC at 317-496-6291.