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Broker Tips for Homebuyer Appraisals

It is important for your sellers and buyers to get an appraisal.  Your sellers can benefit from an appraisal before selling to make sure that any improvements made to the home since it was on the market last should be documented so they can get the correct market value of their home.

Your buyers will also want to have an appraisal done by a professional appraiser.  These appraisals can make or break a mortgage loan. We thought we would share some tips with you this week to help the buyer’s appraisal process go smoothly.

1. Be Descriptive 

   A thorough and accurate description in the MLS along with plenty of photographs of all of the inside and outside features can help the appraiser prepare for their visit.

2. Provide Information 

   When an appraiser calls about your listing, give them as much information as you can to help them with the appraisal process.

3. Create a Booklet 

   Put together a booklet with information that will help them with writing up the appraisal when they are finished looking at the home.  Include things like property information (plats, deeds, etc), HOA documentation, floor plans if you didn’t place them in the MLS, list of improvements and any inspection reports you may have.

4. Provide a Copy of the Contract 

   This helps the appraiser see the contract terms so they can compare it with the market.

These tips are just some of the ways you can help make the appraisal process go smoothly.  Don’t forget to let your clients know that the appraiser is not there to confirm the correct sales price. The appraiser’s job is to give an unbiased opinion of the valuation of the home in order for the lender to approve a loan.