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Appraising Your Home

Thursday, July 30, 2015   /   by Matt Chase

Appraising Your Home

Having your home appraised is an important process. Appraisers are there to assess the value of the home. Homeowners or lenders hire appraisers to ensure the price to be paid for the home matches other homes recently sold in the area. The main focus of a home appraisal is to see the value by looking at structure of the home, land, and comparable home sales in the same neighborhood or geographic region.

Some specific factors are the age of the home, the roof, the mechanics, and the foundation. The appraiser will also factor in features which give the home more value. These include swimming pools, updated bathrooms, and upgraded kitchens with high end appliances. This can also include other interior features such as updated fixtures, lights and faucets. The appraiser will also look at the neighborhood or where the home is located and what area it is in. Property size also goes into the appraisers report. This can include the lot size, number of rooms in the home, and if there is room for potential expansion.

There are a few things you can do to help the appraisal report. These include making sure the house is clean and in order to better show off the positive selling features of the home. Touch up any obvious flaws within the interior. Simply adding a fresh coat of paint can make a huge difference. Having the outside of the home looking good is a positive as well. Repair any chipping paint and mowing the lawn are great general upkeep for the exterior of the home. If you have done any improvements to the home, keep a record of the upgrades. Present the appraiser with information regarding these, and even include receipts. Also include any positive neighborhood improvements, such as updates to the schools.

There are usually three steps to a home appraisal. These steps include the appraiser physically visiting the home, comparing the home to other properties, and creating the report. This generally takes a week for the whole process. If you or someone you know is interested in selling a home, specifically in the Lorain or Cuyahoga counties, feel free to contact us at Chase Group - Keller Williams Realty, Greater Cleveland West online here or at 440-452-2000.