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Preparing your Home for an Appraisal

   

Author: Rosenthal
An appraisal of your home by a licensed Appraiser will be a requirement from any lender before a mortgage loan will be approved. If you have had an appraisal done within the last 6 months, many lenders will allow that to be used. If you have no idea how much your house is worth, you can do some preliminary snooping yourself on the internet before you request an appraisal from an appraiser.
Many websites show the houses sold in your area within the last 6 month to a year that are similar to yours. Some require a membership fee (sitex.com) but some are free (Homevalue.com).

When an appraiser comes, part of his job will be to find 'Comps', or houses of comparable value that have sold in the last 6 months. This is to prove the value he places on your house. Many appraisals must include 3-4 Comps to verify value stated.

When you have set the appointment for the appraisal date, it's a good idea to do a few preliminary things before the date. A little effort could increase the value by a lot. Of course, cleaning up clutter is always the first step. Clean environments give the impression that you care for your property and are responsible for its upkeep.

Secondly, simple repair of any unsightly damages can be inexpensive and pay huge dividends. Painting, trim, soffet repair and simple landscaping, for instance, can help the value considerably. Just remember, unfinished projects can hinder and do more harm than good on the inspection day, so only attempt projects that you know you can complete.

When the appraiser comes, he will measure the home, get a general layout of the interior and take photos of the outside and sometimes even the inside. The process usually takes less that an hour. Then his real work begins. With the information gathered, he now has to research for comps, and any other variables to verify the stated value. He won't be able to give a firm value on the day of appraisal until this work is done. The total process takes about 4 days and a value is given of your property.

Author Bio:

Jay Rosenthal is the Founder of Internet Advisors Group. He is a seasoned executive with over 25 years experience in building, growing and managing emerging companies in the areas of consulting, business development, the law, internet and new media. Throughout his professional career, Jay has been helping companies and professional firms throughout North America to develop and implement online business and market penetration strategies using a unique combination of a "common sense" and "analytical" methodology always visualizing the "Big Picture" with the ultimate goal and objective to generate new business, clientele and to increase sales and bottom-line revenues. He is recognized as one of the leading internet consultants and has directed and managed online marketing programs for not only leading Fortune 1000 companies, emerging and startup ventures, but for small and mid-sized businesses, various professional legal and medical firms as well as individuals.

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