If you need an appraisal when buying a home or refinancing a mortgage, you'll want to be aware of these things beforehand.
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If you seek an appraisal to sell your house or refinance your mortgage, there are a few things about the process you need to know. To help me explain them, I'm joined today by Frankie Hartwelle of Midnight Appraisal Services.
The first thing to expect is an invasive inspection process. As Frankie says, there's a lot of door opening throughout the entire property that happens so the appraiser can observe everything from the floors to the ceiling. It's a good idea to declutter the home so the appraiser can inspect everything in the home. Everything should be accessible to them.
If you have the time, it's a good idea to make all the small repairs that make a house look average, like a door hanging off the hinges, for example. Fixing these items can take your house from the fringes of 'average' up to ‘good.’
The inspection process can be pretty invasive.
Since many people upgrade their house over time, having a list of the upgrades that have been done in the past 10 to 15 years is a great idea. This is especially helpful when you've upgraded things we can't see like insulation or the foundation.
If you made a big home upgrade that might require a permit, it depends whether you should provide the permit. Many times, appraisers will come to a home to see an addition and the owner won't say whether it's legal for fear that its value won't be counted. The addition will always have some type of value; the lender just wants to know if there is a health or safety issue.
If you have any questions for Frankie or you need an appraisal, you can reach her at 510-532-1755 or email her at Midnightappraisal@sbcglobal.net.
As always, give me a call if you have any real estate questions or you're thinking of buying or selling a home. We're here to help!
