In selling a house, there is an inevitable part where the buyer and the seller would require an Appraiser’s service. This is irrespective of the buyer’s opinion; whether he loves the house or not, the lender will still require that an objective third party – in the form of a professional appraiser – come through the home to vet its value and determine its worth.
Because the appraiser operates independently, their opinions are always without prejudice and are influenced solely by the house’s quality and the market value of the house.
But, while you may not be able to sway the final verdict, it is certainly worthwhile to know what an appraiser will look for.
Knowing what an appraiser is looking for during the appraisal can help you get an idea of your home’s value before listing or putting in an offer.
At this point, your mind is flooded with questions, “what do appraisers for?” “how do I score high in appraisals?” “what do I do to make my house more valuable?” Relax, I’ll share briefly what real estate appraisers look for when someone is buying your home.
- The Exterior of your home
Generally, a home comprises a foundation, walls, and a roof. All three of these play significant roles in the functionality and the reliability of a dwelling, and the appraiser for the house will pay serious attention to all of them.
The appraiser will be looking out for defects in the home’s general construction and any damage to these components. Any defect in any of these areas can overturn your home’s grading like a leaking roof makes the house inhabitable.
The primary goal for the appraisal is so that the money to be paid by the mortgage holder is equal in value to a home’s quality.
- The Size of the house
The size of your home is a very important factor to consider for the appraiser. This, however, is linked to the desires of the buyer. Some buyers prefer larger rooms and lots, so this plays a role in appraisals.
The more bedrooms and bathrooms you have, the more you can expect the house to be worth – especially if they are large and accommodating. This is because home buyers like the opportunity to expand and are more likely to desire a property that will allow this. This is not a factor you can work on urgently, but it does play a huge role in appraisals.
- The Interior of the house
Even if the exterior of your house in great shape and the size of your house has mouth-watering value, the interior of your home is just as crucial to the home appraiser when assessing value. Things like windows and doors, flooring, walls, plumbing, electrical (even appliances and light fixtures), kitchen, and bathroom are essential parts of a home.
The appraiser will be skilled in these areas and can spot the difference between the good and the bad so expect him/her to scrutinize every detail of the house.
Other things appraisers look for are extra and additional factors like the swimming pool, air conditioning, security system, garage etc.