The appraiser will inspect the property, take note of defects, maintenance, and special circumstances, research the public records for comparable sales nearby, and arrive at a value. The appraisal will be in writing, with pictures of your property and pictures of comparable sales. It goes without saying that a high appraised value is important. The appraised value will determine how much a Buyer can borrow to purchase the property. If the appraisal comes in less than the purchase price it usually spells trouble and most purchase and sale agreements require the Seller to lower the price or the Buyer can cancel the deal.
Some simple rules apply to getting a good appraisal.
Make sure the property is clean, inside and out. If you are selling a home in a residential neighborhood make sure your house looks as nice as your neighbors. The appraiser will take pictures which will be viewed by the lender. Its important that your property look its best. Click Here to Send e-mail.