As you near the end of your home sale journey, you will need to pass one more test: an appraisal. Your KW agent can help you gather materials and prepare for the appraiser’s visit.
- Comparable properties in your area that are of similar size, age and condition
- The condition of your home’s systems and structure
- The square feet of your property
- The number of bedrooms and bathrooms
- Your location
- The quality of your flooring, plumbing and electrical systems
Appraisers include research about other properties and neighborhood values, as well as an in-person visit for their evaluation of your home.
How should I prepare for an appraisal?
Preparing for an appraisal is similar to prepping for an inspection. You should:
- Provide a list of all major improvements to the home and the age and condition of your roof, heating and air conditioning system, and appliances.
- Provide any permits required for home improvements.
- Clean your house.
- Provide full access to all rooms and spaces, including the garage, sheds, attic and crawlspace
- Remove or crate your pets.
- Leave the house, or at least stay out of the appraiser’s way.
- Ask the buyer to come up with extra cash to make up the difference between the loan amount and the purchase price.
- Reduce your price to the appraised value.
- Split the difference with the buyer.
- Cancel the contract.