There are two parts of the home sale process that cause anxiety for both the seller and the buyer. The first is the home inspection and the second is the home appraisal. Despite the fact that market value of your Scottsdale house is based on what a willing buyer and seller agree to, appraisals are based on, mainly, the sold prices of nearby homes. Of course, that’s putting it simply, but you get the general idea.
There really is nothing you, as a homeowner, or the buyer can do to change the sales prices of comparable homes there are some thing you can do to help get the highest appraisal value possible.
1. Supply the appraiser with the facts
The appraiser has lots of information at his or her fingertips – home sale statistics, public records and more. But there is always a chance that the information used may contain an error. We recommend that you compile a package of information about the home and hand it to the appraiser before he or she leaves the home.
- List all the facts about your home, including the address, the square footage, the number of bathrooms and bedrooms, when it was built and the size of the lot.
- We will supply you with a list of recent sales in the neighborhood.
- If you happen to know of any for-sale-by-owner homes in the area, and their sales prices, make note of those as well.
- Compile a list of any improvements you’ve made to the home, the dates they were completed and copies of permits, if the work required them.
2. Give the home a good cleaning
Most appraisers will tell you that the cleanliness of the home has no bearing on it’s value. But,, why take a chance? A clean home gives the perception of a well-maintained home and, since condition is part of the evaluation process, it certainly won’t hurt to clean the house before the appraiser’s arrival.
“Things like overgrown landscaping, soiled carpeting, marks on walls — those do affect value and are part of the property’s overall condition rating,” Dean Zibas, of Zibas Appraisal in San Clemente, Calif. tells the Wall Street Journal.
Certified residential appraiser Ralph J. Vaccari, of Marblehead, Mass. agrees. “It’s important to realize, though, that a dirty or unkempt home can increase its appearance of wear and tear beyond normal, and that condition can, in fact, affect value.”
3. Repair the obvious
“Say you have a cracked window, thread-bare carpet, some tiles falling off the shower surround, vinyl torn in the laundry room, and the dog ate the corner of the fireplace hearth, these items could still add up to an overall average condition rating as the home is still habitable, however your effective age will be higher resulting in comparables being utilized which will have the same effective age and resulting lower value,” Doreen Zimmerman, an appraiser in Paradise, Calif. tells the Wall Street Journal.
So get busy making any repairs that make your Scottsdale home appear older than it is.
Good luck on your appraisal!