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Old Today, 10:31 AM
 
Location: Worcester MA
2,855 posts, read 904,531 times
Reputation: 5162

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Currently in the process of refinancing and getting my house appraised.

When I originally bought my house, that appraisal was just a tiny bit over the listing price, which I thought was totally suspicious. Obviously the appraiser didn't want to spoil the deal and made sure it appraised.

Now, since I am neither buying nor selling, very curious to know what number they come up with.

Whatever it is, will this affect my real estate tax? And is the appraisal value the amount you would list a house for, if selling?

Will this appraisal help or hurt in anyway?

Also, wanted to add, should I quick repaint my kitchen cabinets before the appraiser comes? I am going to do it soon, but will have to do it this weekend if before appraisal.
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Old Today, 10:55 AM
 
Location: USA
2,608 posts, read 1,050,735 times
Reputation: 7410
1. No. No.
2. Not regarding question 1 above. It will hurt if appraisal is less that refinancing amount.
3. No.
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Old Today, 02:28 PM
 
Location: NC
7,889 posts, read 10,449,130 times
Reputation: 16729
Appraisal is simply the value a lender sees. Taxes use an assessor and this is only done every few years at the same time as all your neighbors. One factor for the appraiser is “general condition”. Old houses always have a lower score so painting your cabinets would have little to no impact. What counts are details like number of bedrooms, size, etc. There may also be factors like proximity to new roads and new luxury developments.

So just clean up the place so it looks like you’ve maintained it reasonably.
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