To get your house appraised accurately and efficiently, follow these expert-backed steps:
- Choose a Qualified, Licensed Appraiser
- Ensure the appraiser is licensed, experienced, and familiar with your local market[1].
- You can request an appraisal through your mortgage lender (often required for loans or refinancing), or hire an independent licensed appraiser directly.
- Prepare Necessary Documents
- Gather relevant documents such as recent tax assessments, records of upgrades or renovations, and a list of major repairs or improvements.
- Have a copy of your property survey and any recent sales information for comparable homes in your neighborhood.
- Clean, Declutter, and Make Repairs
- Deep clean your home, declutter spaces, and make minor repairs to create a positive impression.
- Improve curb appeal by tidying up landscaping, mowing the lawn, and addressing any visible exterior issues.
- Investigate Comparable Sales (“Comps”)
- Research recent sales of similar homes in your area to understand the market value[4].
- If working with a real estate agent, ask them to provide a comparative market analysis (CMA) to help you and the appraiser understand local pricing trends.
- Consider Free or Informal Appraisal Options (for Estimates)
- For a ballpark estimate before a formal appraisal, use online home value estimators (like Zillow or Bank of America).
- A real estate agent can often provide a free CMA, which is helpful if you’re just exploring your options and not seeking a formal appraisal for a loan.
- Schedule and Attend the Appraisal
- Coordinate with the appraiser for a convenient time for the on-site visit.
- Be present during the appraisal if possible, to answer questions and point out upgrades or unique features.
- Review the Appraisal Report
- Once completed, review the appraiser’s report for accuracy, especially details about your property and the comparables used.
- If you notice errors or disagree with the valuation, notify your lender or the appraiser and provide supporting evidence for a reconsideration.
Types of Appraisals
| Appraisal Type | Description | Best For |
|---|---|---|
| In-person | Appraiser visits the property, inspects interior/exterior, and reviews comps | Most accurate, required for loans |
| Hybrid | Mix of virtual and in-person data collection | Some lenders, special cases |
| Desktop | Appraiser reviews public records and comps without visiting | Quick estimates, not for loans |
| Drive-by | Appraiser inspects only the exterior and reviews records | Limited-scope situations |
Tips for a Successful Appraisal
- Make minor repairs and upgrades before the appraisal.
- Provide a list of recent improvements and their costs.
- Ensure all areas of the home are accessible and well-lit.
- Present documentation for any unique features or additions.
Cost and Payment
- A typical home appraisal costs between $300 and $450, but can vary based on location, home size, and loan type.
- The borrower (homeowner or buyer) usually pays for the appraisal unless otherwise negotiated.
By following these steps and preparing your home and documentation, you can maximize your home’s appraised value and ensure a smooth appraisal process.
