What do appraisers look for?

The condition of the home. Is it ready to move right in then it will be fine, if it has no kitchen and needs a roof then they won't want to lend you money.

The # bedrooms.

I like to get my own comps and hand them to the appraiser so I get the # I am looking for. The more work you do for them the better.

I do this through public records search of the sale of homes in the area.

The condition of the neighborhood. If you have a house that is on a block with 20 condemned signs they won't lend money for the home

Forget staging it has no importance within the appraisal, and force-via appraisal are just about long gone on this marketplace. I appear for up-to-date kitchen and baths (if its an older house) situation of the outside and inner. This will investigate the amazing age of your condo. You could have a 35 12 months historical condo and on no account has been up-to-date or little or no and a amazing age of 30 years and the equal condo subsequent door that's 35 years historical and completly made over with a amazing age of five years. Appraisers appear at situation and up-to-date units. We additionally appear for deferred preservation like worn carpet, moss at the roof, dangerous gutters, condo demands portray, dangerous roof, ect. in case your condo is in ordinary conditon you are going to be nice. Your house is founded on different comparables income (withing the final 6 months) and inside one million-two miles of your house, with equivalent layout, equivalent GLA (gross residing discipline SF above grade), equivalent age. Then he's going to modify (buck quantity) to the comparables to make the comparables as equivalent because the area prop. Like if a similar has a two-automobile storage and also you had a one million automobile storage, he could deduct two-5K for from that similar from the income cost of that similar, considering that they've a two automobile storage and that provides importance, so your importance cross down. Same with GLA, Lot measurement, situation and equal with amazing age till all of the comparables are very similar to the area. Now it you have got some thing that the similar does now not have he could modify up at the similar and your importance could cross up. Aesthetic has no importance in an appraisal file. The appraiser would possibly remark on how good it's being taking good care of however thats approximately it. Little importance is located on landscaping considering that its perishable and if you do not deal with it, it is long gone. Also recall he's going to be taking inner and external photos and different individuals (lender) will see them. So simply ensure your condo is ordinary blank and you are going to be nice. Also recall so much house owner believe their house is valued at greater than it relatively is. Also do not ask the appraiser what he thinks the appraisal goes to come back in at. The appraiser can't disscuss whatever approximately the appraisal or deliver you a duplicate of the appraisal even it you paid him. Its a contravention of Federal legislation and USPAP. If you wish a duplicate of the appraisal you are going to need to get it from the lender considering that they're the patron now not you. Hope this is helping

The appraiser is going to look to see if there is any visible damage, what condition the home is in and what other homes in the vicinity that are similar in size sold for recently. They are not to be relied upon to tell you if the home has any defects that are unseen by the naked eye... you want to hire a property inspector for that.

they look at everything! they pull comparible homes in the area that have sold, and compare yours to it so if 3 houses sold in a square mile from your property, they will see how much they sold for and how they compare to yours such as does urs have newer appliances or flooring and then they determine if the asking price is within market value. so in otherwords they look at every little thing on the entire property and compare it to the market.

From quality of building to obvious problems to neighborhood to current condition to comp sales to interior fixtures (carpet, paint, bathtubs, faucets, windows, stove, microwave, oven, central vac, lighting, speaker system, wired for sound), size, bedrooms, bathrooms, garage, LR, DR, office, bonus rooms, quality of doors, ac, heater, water heater, patio, lot size, water feature, landscaping, color of the house, how up to date it is. . .

Anything that could affect value but isn't overly hidden. They aren't going to inspect for foundation damage or termites in the attic, but everything else that's obvious or fairly obvious comes into play. Literally.

Square footage, how many Bdrms and Baths, age of kitchen. Overall condition and appearance

Garage? Comps of the area

They'll look at your house and they'll look at the surrounding houses and what they've sold for, and how they compare to your in relation, size condition , previous sales pices etc.

Size, amenities, condition, location.