Tips for Preparing Sellers for the Appraisal!
The key to a good appraisal is using accurate comparable sales and other important data to arrive at an appropriate price for the property in question. If you are selling your home, here are some tips that will improve the odds that the final appraised value is not left up to chance.
As appraisals are one of the major hurdles for sellers, buyers and lenders these days, here are some tips that you can share with your sellers that will help move the appraisal process along smoothly, and will ensure the appraiser has all the available info needed to complete an appraisal report that is NOT left up to chance.
Provide For Sale by Owner information
If the seller knows of any recent “For Sale By Owner” sales in the surrounding neighborhood that will help support the value, ask them if they are able to get additional information from the home buyers living there now.
Doing the homework upfront on transactions is key
It is very important these days that the necessary home work is done upfront on transactions before the appraiser comes to the home to do their inspection. Remember, as appraisers now work for the lenders and have no relationship with any parties on the transaction anymore, there will unfortunately be appraisers who do not care what the final value is, as they get paid regardless of the quality of their work! Therefore it is important to do what we can to improve the odds that the final appraised value is not left up to chance.