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Old 09-02-2011, 07:16 PM
 
Location: Minnesota
18 posts, read 40,202 times
Reputation: 24

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I need to have a home appraisal, and want to make a checklist of things that matter. I've visited some web pages on the subject, but there's nothing like hearing from people who've gone through it.

I welcome input from anyone who has experience in this area, whether by being a homeowner or an appraiser...even third party anecdotes on the subject might be helpful ("I knew this woman who knew this guy..."

Thanks!
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Old 09-02-2011, 07:20 PM
 
20,793 posts, read 61,314,203 times
Reputation: 10695
Square footage of your house, the condition of your kitchen and bathrooms, the number of rooms you have above grade, your location.
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Old 09-03-2011, 10:27 AM
 
Location: Minnesota
18 posts, read 40,202 times
Reputation: 24
Thanks for your input, golfgal. I appreciate it!
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Old 09-03-2011, 10:59 AM
 
20,793 posts, read 61,314,203 times
Reputation: 10695
I think the longest an appraiser has been in our house over the past many years was 30 minutes....
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Old 09-03-2011, 12:27 PM
 
1 posts, read 1,184 times
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The appraiser will measure the house, count the bedrooms and baths. Take some pictures and notes on the property condition.
Once they have gathered that information, they then research similar properties that have sold in the area. They compare square footage, bedrooms, baths, garage to your house to establish a value. They factor in condition somewhat, but less so than Realtors doing a CMA.

To qualify as a bedroom it needs to have a closet and an egress window (fire escape). If you want the appraisal on the high side, have the property home nice and clean. Let the appraiser know what the appraisal is for, the figures come in ranges; so are you on the high side or low side on the range.
Certain property types and locations don't swing as far on the price ranges, others can vary greatly.
Appraisers have a lot less flexibility now as they once did and are under greater scrutiny. Lately we are having difficulty getting appraisals to come in for what the buyer is willing to pay for a home.
Having some comparables for the appraiser sometimes can help. Contact your realtor for help with that. Or send me an email and I ca help you out.
Please excuse typos and misspellings, i am on my mobil trying to type this...
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Old 09-04-2011, 01:14 PM
 
Location: Minnesota
18 posts, read 40,202 times
Reputation: 24
Thanks you guys so much! I now feel much better prepared (or rather, prepared to get prepared, ha!).
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