An appraisal is an extremely critical part of the home-selling process. Understanding how the appraisal process works will help ensure you get the best price for your property.
What Counts in an Appraisal
Homeowners often work hard to enhance their home’s appeal for buyers, hoping it will bring a higher price with new features and important updates. Then, they are disappointed because the appraisal didn’t reflect that hard work.
An appraiser looks at other homes in the area that are nearly the same size and with similar features to find comparable pricing. These are homes that have recently sold, so they know what buyers are willing to pay. They make adjustments based on the location of the property, the square footage and the condition of the…