The idea of a home appraisal strikes fear into the heart of anyone trying to sell or refinance their home. It doesn’t need to, though. You can prepare for your appraisal and sail through the process with flying colors. Here are a few tips on how to prepare for a house appraisal before the appraiser knocks on your door.

Understanding the Appraisal’s Purpose

An appraisal is part of the home loan process whether you are purchasing a home, selling a home, or applying for a refinance of your mortgage. The appraisal will almost always be at the expense of the seller or the person refinancing an existing loan.

To protect the interest of the consumer and the bank, loan officers are not allowed to talk to an appraiser. They will supply the name of the appraiser and the consumer can contact him directly.

You may choose an appraisal just to understand your home’s value in case of a future sale. An appraisal is a good way to prioritize repairs and improvements.

Appraisal or Inspection

A home inspection is different than an appraisal. An inspection protects the lenders and buyers from costly code violations. An appraisal is an evaluation of your home’s value compared with other homes in your area.

Some loans types, like FHA, need a more detailed home appraisal. These guidelines include code and safety violations. FHA appraisers can ding your home for peeling paint, missing handrails, and broken sidewalks or steps.

How to Prepare for a House Appraisal

Preparing for an appraisal is all about maximizing your home’s appearance so that it appraises at the highest value possible. Any small improvement you make will add to its appeal.

Paint

A fresh coat of paint adds immediate impact to your home. Choose bright and clean colors for the job.

Repair

Watermarks on the ceiling or holes in the drywall are all immediate dings on your appraisal. Take the time to repair any obvious defects in your home.

Clean

Scrub your floors and clean your carpets before the appraisal. Make sure you have dusted and polished surfaces to a shine.

Organize

Take the time before your home appraisal to organize any extra junk you have lying around. Don’t shove stuff into a closet; the appraiser might look inside your closets, too.

Easy Access

Give the appraisal a clean sweep of your home. He will need access to all rooms, including the attic, basement or crawl space.

Curb Appeal

Trim the grass and clean up the yard. If you have the time, a fresh coat of paint on the outside can add a lot of curb appeal. This minor upgrade increases the valuation of your house.

Don’t be Afraid of the Process

Appraisals aren’t scary once you understand how to prepare for a house appraisal and what the appraiser is looking for.

For more great tips on getting your home ready for a sale or appraisal, read here.