What Can Hurt a Home’s Appraisal

Oct 3rd, 2012 | By | Category: Lead Article

Owners can take steps to avoid having their home appraised at a lower value than the asking price.

“Taking the time to understand the areas that can positively influence your appraisal can help ward off the chances that your home will be appraised at a lower value than the asking price,” according to a recent article at Realty Times, which highlights ways sellers can prepare for an appraisal.

Here are a few ways that home owners can hurt their appraisal, according to the piece.

 

 

Leaving the home untidy.

Having an unkempt exterior or interior can cause an appraiser to decrease the value somewhat. Remind your sellers that curb appeal is also important for an appraisal. Overgrown bushes or an unkempt home exterior could prompt an appraiser to take as much as 3 percent off the value, according to a CNN Money article. Curb appeal doesn’t just help entice buyers to come in and see more of your home, it can actually increase your   appraisal value. Also, If neighboring homes are    meticulously kept up and yours isn’t, this could cause your appraisal to be even more severely downgraded. A carefully maintained yard is a sign that the home is also likely kept up.

Having incomplete remodeling projects.

Don’t let home owners keep a remodeling project unfinished prior to an appraisal. If they must, make sure they include details of the complete project and when it is to be finished to the appraiser.

Failing to list improvements or upgrades made to the home.

Compile a list of upgrades and home improvements made to the home and provide it to the appraiser. While some items, like a new roof, may not help raise the appraised value, other items might.

Daily Real Estate News

 

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