For What It's Worth Appraisals: What should you as an agent or homeowner provide to the appraiser?

For your #wednesdaywisdom , What should you as an agent or homeowner provide to the appraiser?

The first thing is kindness, because we all need a little kindness in our life. After that provide them with helpful information. This could include recent updates, special features, and information about your property that may not be otherwise known just from a physical inspection.

A very simple way of doing this is to type or write out when improvements have been completed and what you did. For example, all flooring was replaced 2 years ago, kitchen was completely renovated with new cabinets, counters, backsplash and appliances 6 months ago. While we may be able to see your updates, knowing the time frame and exactly what was done is very helpful! Having this list also ensured that nothing is missed.

After providing these updates and features of your home, provide recent sales you feel are similar. If you have access to MLS, local sales office or know of neighborhood sales, provide this. Be cautious however, be knowledgeable of updates, size, features of these “comparable” you are providing. You want to ensure they are truly similar. Keep in mind that the appraiser is going to research comparable sales and will most likely come across what you have provided. The purpose of you providing them allows the appraiser to understand your research in listing, selling or valuation of the property. This is most important when the property is unique, complex or has very few comparable in the market. Please keep in mind that you providing sales does not guarantee they will be used.

Providing all of this helpful data is the best way to endure the appraiser has this information in hand. More often than not we receive this information after the report has been completed. Get ahead of the game and provide it at the time of property visit.

As Always if you have any questions, please reach out!

info@fwiwa.com

843-808-1533