Tips for a Positive Appraisal Experience

Getting the Most for your Appraisal Money

For most folks not involved directly in the real estate industry, the appraisal process can be stressful.  We are often leery of objective opinions of ourselves or things we value which aren’t filtered by the love of friends and family.  Luckily, however, there are steps you can take which can improve the appraisal experience significantly.  The first step is understanding the process.

Shop Local

Insist on an appraiser who is thoroughly familiar with the neighborhood in which your residence is located. Market conditions may be vastly different from region to region and you need expertise specific to your region to get a fair valuation.

Experience is Essential

Ensure your appraiser is licensed and experienced to be certain their market valuation will be recognized by governments, realtors,  banks and other financial institutions.

Nuts ‘n Bolts

Understand that appraisers don’t pay a lot of attention to style and design as much as materials and workmanship.  Stylistic choices are one of those, “beauty is in the eye of the beholder” issues and not relevant compared to size, age,  extras and other “bricks and mortar” issues.

Keep it Clean

A messy or cluttered house might affect your valuation, despite the appraisal process being designed to foster objectivity. Some appraisers may consider unkempt homes to be lacking in proper maintenance and, let’s face it, appraisers are human and will receive a better impression from a tidy house and yard.

Reading and Righting

Read the appraisal report carefully and take serious note of what it says about your property and the comparable properties used in the report to arrive at your home’s value (or “comps” as they’re known as in the industry). No matter whether the valuation is what you expected, the appraisal will give you insights into your home including problems you may not have recognized.  Your appraiser can give you information on how to improve market values in the future, for example;  and how to realize the best return on your investment when you are renovating.

Truth or Consequences

Like everywhere else in life, honesty is the best policy.  Exaggerating or withholding information from an appraiser is a terrible idea. They are inquisitive by necessity and must verify all facts in order to be able to defend their valuation in court.  Remember! An accurate appraisal from a licensed appraiser can save you thousands of dollars. A selling price too high will be ignored by the market, while too low leaves money you deserve to have, on the table for someone else to rake in. Take advantage of the power contained in your appraisal report.  It’s money well spent.

service area

  • Edmonton
  • Sherwood Park
  • St. Albert
  • Fort Saskatchewan
  • Spruce Grove
  • Stony Plain
  • Leduc
  • Beaumont
  • Devon
  • Calmar
  • Rural Properties within 50 miles of Edmonton

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