9 Crucial Things to Know BEFORE Your Home Appraisal (Don’t Lose Thousands!)

Описание: See our extensive blog post with more details about things you should know before a home appraisal at Raleigh Realty's website: https://raleighrealtyhomes.com/blog/h...

Welcome to our video on the 9 things to know before your home appraisal. Home appraisals can make buyers nervous, especially with competitive bidding wars and homes selling above asking prices. The appraisal is essential for securing funding for your new home. First, understand that a home appraisal determines a property's value, helping mortgage lenders ensure buyers aren't overpaying. The cost varies by location and home size, typically ranging from $300 to $450. The process usually takes 30 to 45 minutes, with the report finalized in about 7 to 10 days.

During the appraisal, the appraiser checks for disrepair, water damage, pests, and compares the home to similar properties in the area. To prepare, gather key documents, clean thoroughly, fix minor issues, and ensure accessibility to all areas of the home. You don't need to guide the appraiser but be reachable for questions. Usually, the mortgage lender orders the appraisal, and the buyer pays for it. Remember to be transparent about renovations to ensure an accurate valuation and focus on presenting your home in the best light.

Lastly, understand what can hurt or increase your appraisal value. Address maintenance issues promptly and highlight significant improvements without overspending on unnecessary upgrades. A well-presented home, both inside and out, makes a better impression on the appraiser. Being prepared and understanding the process can make the home appraisal less daunting. Thanks for watching, and don’t forget to like, comment, and subscribe for more real estate tips!

TIMECODES
00:00 - Intro
00:25 - 1: What is a Home Appraisal?
00:54 - 2: Home Much do Appraisals Cost?
01:20 - 3: How Long Does it Take?
02:42 - 4: What Do They Look For?
02:24 - 5: How To Prepare?
03:15 - 6: Should I Guide the Appraiser?
03:50 - 7: Who Pays for It?
04:08 - 8: What Hurts the Appraisal?
04:32 - 9: What Increases Value?
05:21 - Outro

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