How long does an appraisal take?

The appraisal inspection can take anywhere from 15-45 minutes depending on the property type. The completed appraisal report is generally delivered within 3-10 days.  Your appraiser will provide you with an estimated time of completion before starting your appraisal.

What do I need to do to prepare?

-Have payment ready at time of inspection (this is usually provided via check).

-Keep any animals inside when the appraiser is outside and outside when the appraiser is inside.

-Provide any necessary information to the appraiser at the start of inspection (I.e. keep the gate shut behind you, do not let the cat out of the downstairs room, do not enter xyz space until you let me know you are ready etc…).

-It is beneficial to have all areas at least visible (rooms can be full or used for storage, but walls and floors should be at least partially visible/observable). If any areas are not accessible, make the appraiser aware prior to the inspection date.

-The home does NOT need to be cleaned/picked up. This is considered a personal preference. The appraiser will not take personal items/cleanliness into account for the valuation.

How can I get my value to be higher or lower?

The appraised value cannot be influenced or changed by any actions of the homeowner or occupant. The only way to change the value is by making improvements or upgrades to the property (generally not a quick fix to change the value of your home). That being said, there is information that can be provided to the appraiser may have an impact on value, below are a list of some items that may have an impact on value (make sure your appraiser is aware of this information prior to the appraisal:

Past/current flooding, past/current foundation issues, prior death in the home, any type of contamination etc…

You can also provide a list/information on upgrades completed.  The best format is bullet points with date completed and cost, for example:

• 2020 Kitchen remodel $40,000

• 2019 Hardwood flooring $25,000

• 2015 HVAC and duct replacement $15,000

• 2021 Interior paint $5,000

• 2015 Dual pane windows $19,000

• 2010 Roof $12,000 
  

How do you come up with a value?

The primary method for valuing single family and 2-4 is the sales comparison approach.   This method takes into consideration the sales and listings in your neighborhood.  Sales/listings are selected based on a number of factors including, but not limited to: Size/living area, location, date of sale, upgrades/condition, quality, lot size, and additional features (pool, shop, solar etc).

It should be noted, one sale does not establish value. Just because the house next door (just like yours) sold for $500,000 does not mean your home is necessarily worth $500,000 (your appraisal may be more or less than this amount). Other factors include: what other homes are currently on the market, what are other less similar homes selling for, what was the motivation of the buyer/seller for the next door property etc…