Top 3 Appraisal Busters Every Seller Should Know.

When you’re listing your home for sale, one of the things that is very vital is the appraisal. Yet, this is an area that can be significantly positively or negatively influenced by what you do or don’t do to your home before it is appraised.

#3 Unkept Exterior/Interior

Having a messy home from the outside in, not only can cause potential buyers to turn away from your home but it can also cause an appraiser to shave a little off your appraisal. If the exterior has lots of overgrown and unkept bushes and the house is dilapidated, this could cause the appraiser to take “as much as 3 percent off”, according to CNNMoney.

Curb appeal doesn’t just help entice buyers to come in and see more of your home; it can actually increase your appraisal value. Also, if neighboring homes are meticulously kept up and yours isn’t, this could cause your appraisal to be even more severely downgraded. A carefully maintained yard is a sign that the home is also likely kept up.

#2 Trendy Remodels

Remodeling can certainly add value to your home, especially if you’re adding storage, room additions, and other important improvements that are popular among buyers. However, if you do a costly and trendy remodel and think that the true cost will equal the value, you could likely be very disappointed.

Some remodels add value while others can actually hurt you when an appraisal is done. To make the most of a remodel, renovations should keep in line with the historical period of the home. If they don’t, then an appraiser will assess the cost of having the remodel taken out such as a trendy custom-built, entertainment center. However adding space to the kitchen using timeless styles will add value.

#1 Failure to List Improvements

Rather than trying to determine which improvement will increase your value, compile a detailed list and give it to the appraiser. Have copies of any documentation, such as city permits that were necessary, available for the appraiser to review.

While you cannot expect all improvements to help your appraisal, Buyers and appraisers expect a to be in good condition. Knowing which areas to pay particular attention to can help you increase your home’s value.

I would love to hear about your appraisal and renovation stories… good and bad. For a FREE Home Valuation and Renovation Consultation, contact me today!

 

Related Articles:

Buying a Home Won’t Get Much Cheaper – CNN Money

Keller Williams Realty #1 in Buyer and Seller Satisfaction – JD Power

 

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Filed under Investment Property, Realtor Life, Sellers Guide, Topics For Home Owners, Valuable Information

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