Selling your home and moving through the contract process is exciting, but the next big step is preparing for your home’s appraisal. This can be a make-or-break moment for the sale, as the appraisal will determine if the home is worth the contract price or more. If the home doesn’t appraise for the agreed-upon price, it could cause issues in the sale.
Let’s dive into how you can best prepare for the home appraisal to help ensure a smooth transaction.
Understand the Appraisal Process
Before we begin, it’s important to clarify that I am not a Licensed or Certified Appraiser, but after talking with my friend Tony, who owns an appraisal company, I can share some valuable insights. Licensed appraisers must have a minimum of a two-year degree, while certified appraisers must have a four-year degree, two years of apprenticeship, and state approval. While I’m not an appraiser, I can provide tips on preparing your home based on what appraisers typically look for.
1. Pay Attention to Market Trends in Your Neighborhood
As you’re getting ready for the home appraisal, be sure to keep an eye on the market in your neighborhood. What homes are selling around you? How long do they stay on the market? What kind of condition are they in? Comparing homes that are similar in size, condition, and style to your own will provide a better understanding of where your home stands in the market.
2. List Updates and Major Maintenance Items
To help with the home appraisal, start by listing all the updates and big maintenance items you’ve completed since owning the property. Even simple updates, like a fresh coat of paint or newer appliances, can add value to your home. Keeping this list handy for the appraiser will help them understand the improvements that make your home stand out.
3. Address Minor Repairs Before the Appraisal
Walk through your home and note any minor repairs that need attention—things like broken light bulbs, faulty smoke detectors, loose toilets, or cracked windows. These small fixes can make a big difference in how your home is perceived during the home appraisal process. For most minor repairs, the $500 rule applies—small fixes and updates should ideally cost under $500. If you can repair these issues without breaking the bank, it will help ensure your home appraises at its best value.
4. Clean Your Home Thoroughly
A clean home shows that it has been well-maintained and can positively impact your home appraisal. A deep cleaning will also give you an opportunity to spot additional things that might need attention. If you don’t have the time, hiring a professional cleaning service is a great option.
5. Don’t Forget the Curb Appeal
When preparing for a home appraisal, make sure to tidy up the exterior of your home. First impressions are important. Trim back bushes, clean the gutters, and clear the flower beds. Adding colorful plants or flowers around the porch or mailbox can significantly enhance curb appeal and make a great first impression on the appraiser.
Final Thoughts on Preparing for Your Home’s Appraisal
By following these simple steps, you’re setting your home up for success in the home appraisal process. Ensuring your home is well-maintained, cleaned, and repaired will help the appraiser see its true value. If you’re considering listing your home and want more guidance on preparing for the appraisal process, don’t hesitate to contact us at 865-776-8147 or check out our Seller Resources Page for more helpful tips and information. We’re here to help you navigate every step of the home-selling journey!