In this article, I will share the proven home appraisal checklist that can increase the price of your house if you check them all on both sides, interior and exterior. The most professional home appraiser uses these methods to determine the market value of a house and how to improve it. So that you and the appraiser both can more money. But first, you need to know what exactly a home appraisal checklist is.
Table of Contents
- What is a Home Appraisal Exactly?
- Home Appraiser versus Home Inspector
- The Ultimate Home Appraisal Checklist
- The Interior Appraisals
- The Exterior Appraisal
- The Full Checklist of Home Appraisal
- What is the Fair Market Value of my House?
What is a Home Appraisal Exactly?
An appraiser will show you how much the house is worth in the current market condition. Your work here is to make every effort and prepare your house for an appraiser by collecting all the data by following the checklists I will give you. Otherwise, you might not get an answer you like as your house was not looking its best when he did his analysis.
But never confuse an appraisal with a home inspection. An inspection determines the current condition of your house, whereas a home appraiser establishes your home’s value and maybe helps you to increase it.
Home Appraiser versus Home Inspector
A home appraisal examines the value of a house based on market analysis. It means the appraiser will compare it to other similar homes in your area and other real estate factors to determine the maximum price of your house in its current condition.
But a home inspector inspects the condition of the house. The house conditions, like plumbing, electrical, roof, and foundation. If the inspection report finds something wrong with the house that needs repair, they will inform you how much it may cost.
Investors hire inspectors not to get scammed while investing and help renegotiate the asking price if they found something broken. But sometimes, the appraiser also does this work. They have team members who can do both. It depends on the company you are hiring for the job.
The Ultimate Home Appraisal Checklist
Okay, now let’s talk about the home appraisal checklist and what you must do to get the best price for your house. We will start with the interior appraisal and exterior, and then we will also talk about other appraisal processes.
The Interior Appraisals
An appraiser will analyze the number of bedrooms and bathrooms in your house, the windows and closets, and the garage. He will also look at your appliances and verify they are all in working condition. He will look at any upgrades you have made.
The Exterior Appraisal
Here he will look at your house and its age primarily. The older it is, the less value you will get. Plus, if the paint seems faded, the lawn is not in good condition and has many exterior problems that need to be fixed soon. He will give a low price until you have fixed all of them.
With that, they will also look at the zoning codes, public utilities available properly, and the size of the lot. Here is the short version of that home checklist.
The Full Checklist of Home Appraisal
Here is the full checklist you need to take care of before you hire an appraisal to do the valuing and sell it.
- Square footage of the house.
- The number of bedrooms and bathrooms available.
- The kitchen, basement, and crawl space.
- Condition and materials of the walls, floors, closets, and windows.
- Property age
- New paints
- Lawn and surrounding
- The lot size
- Government zoning
- Public Utilities
- Plumbing issues
- Any roof leaks or damage
- The garage and its door
- Foundation without any damage
- Utilities, air conditioning, electricity, and water are functioning
- Secure doors with no loose hook
- Secure handrails and railings with the steps
- No cracks in the walls and ceilings
- Damaged driveway or sidewalk
- Grounded plugs
Do your budget before you spend money on these. But go through the checklist to avoid any surprises from the appraiser.
What is the Fair Market Value of my House?
There are not any exact calculations for how to determine the fair market value of your home. But there are certain factors that you can consider, like:
- Understanding the condition of your property issues.
- Your local property market.
- Similar types of homes in that area, and how much they are worth.
It’s the first step any appraiser can take to create a fair market value. But that home appraisal checklist will help you to ask for more money from the investor if you solve all those issues.
So now I have given you a complete home appraisal checklist that you can use to make the most out of your property and demand a higher price from the seller. But do budget because all those analyses will take huge money to get a result. I wish you the best of luck.