You’ve worked hard to secure the purchase price you wanted for your home, and now it’s officially under contract. The next step? The buyer’s lender needs to confirm that your property is worth the agreed-upon price—and that’s done through an appraisal. A successful appraisal can make or break a sale, so let’s dive into maximizing your home’s value before the appraiser arrives.
What Is an Appraisal?
An appraisal is a report ordered by the buyer’s lender to determine the value of your property. It’s based on your home’s features and recent comparable sales in your area, typically within the last six months. The lender’s goal is to ensure the house is worth the amount the buyer borrows. Appraisals are often a crucial contingency in real estate transactions; if the property doesn’t appraise at the agreed price, buyers may not be able to secure financing, which can jeopardize the sale.
Enhancing Your Home’s Value Before an Appraisal
The good news is that you can take proactive steps to make a great impression on the appraiser. Here are expert tips to help you prepare:
- First Impressions Matter
Curb appeal is your first opportunity to make a positive impact. A well-maintained exterior sets the tone for the rest of the appraisal. Here’s how to improve it:
Landscaping: Lay fresh mulch, plant vibrant flowers, mow the lawn, and trim overgrown bushes.
Exterior Upkeep: Touch up paint, power wash the siding, and ensure the roof and gutters are clean.
- Create a Clean and Bright Interior
The inside of your home should feel inviting, spacious, and well-maintained. Focus on these key areas:
Declutter and Organize: Tidy up bedrooms, bathrooms, and the kitchen to make them look their best.
Deep Cleaning: Pay attention to floors, windows, and any visible surfaces to make the home sparkle.
Lighting: Replace burnt-out bulbs and let in natural light to brighten the space.
- Address Minor Repairs
Small issues can add up and negatively impact your home’s perceived value. Fixing them beforehand is worth the effort. Examples include:
Safety Features: Ensure smoke detectors and carbon monoxide detectors are functional.
Plumbing and Electrical: Check for leaks, address visible electrical issues, and ensure appliances are in working order.
Cosmetic Repairs: Patch holes in walls, fix squeaky doors, and secure loose fixtures.
- Be Mindful of Comparables
Appraisers compare your home to similar properties that have recently sold in your neighborhood. Proper preparation ensures your property stands out positively against these comparables.
Why Preparation Matters
By investing time and effort into presenting your home at its best, you reduce the likelihood of surprises during the appraisal process. A polished, well-maintained home not only supports the agreed purchase price but also signals to the appraiser that your property is cared for, potentially influencing their valuation.
Need Help? We’ve Got You Covered!
Ready to get started? Contact us today to ensure your appraisal is a success!
