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In home appraisal checklist12/2/2023 ![]() Before you start, the process you must be aware of a realistic sales price and ensure your home is suitable for a wide range of potential buyers. There are a couple of things you can do to prepare your house for a sale process and help your appraiser. Home Appraisal Checklist for a Seller or a Homeowner Here are some tips for you to consider in the home buying process. If you would like to know how much your home can cost in the current market, a licensed appraiser can give you an exact estimate of your home current value based on a few factors like the latest home sale in the neighborhood. Here is another resource that has several good posts on how to save money.īefore we explore the home appraisal checklist, let’s first define what a home appraisal means.Ī home appraisal is a comprehensive evaluation of a property’s value by a qualified and authorized expert. After purchasing my second home, I’ve been using Airbnb to minimize my mortgage cost on a monthly basis. You may end up not getting the mortgage refinancing if the value is too low.Ī home appraisal gives your mortgage lender a guarantee that the collateral on your loan is worth enough to secure that loan. You need to understand the process before you make an offer on any property since your ability to get a mortgage largely depends on it. The home appraisal process can be quite a daunting task. A home appraisal checklist can come in handy in such situations. When you want to refinance an existing mortgage, apply for a home equity loan or sell your home, you need to ensure that you get the right value. Giving you the tips to build wealth is one of the many reasons why I started Millionaire Mob. I will continue to invest in real estate to increase my income and net worth simultaneously. I owe a lot of my net worth increase from real estate. It is one of my favorite ways to build wealth effectively. Building wealth through real estate is a sound strategy. If you’re a homeowner, a home buyer or a seller, you may at some point require the services of a home appraiser. Home Appraisal Checklist: How to Ensure You Get the Right Value If applicable, provide the condominium budget and year-end statement.Here is a home appraisal checklist to ensure you the right value for your real estate. Please include the purchase and installation date, along with permit confirmation if available. Most recent real estate tax bill and or legal description of the property.Īny inspection reports, or other recent reports for termites, EIFS (synthetic stucco) wall systems, your septic system and your well.Ī list of any major home improvements and enhancements (for example, the addition of central air conditioning or roof repairs). Title policy that lists encroachments or easements. Information on any written private agreements, such as a shared driveway with a neighbor.Ī list of any personal property that is part of the home and you intend to be sold with the home, such as an oven, or a washer and dryer. ![]() Records on the purchase of the property in the last three years. (Underwriter requirement)Ī survey or plot map of the property and building (if readily available).Ĭopy of original house plans if available. Remove photographs of people from every room. Mow your yard and trim your bushes or trees (Recommendation) Repair small things like leaky faucets, missing door handles, and trim. (FHA/VA)Īddress any exposed wiring in living area and install faceplates covers if missing. (FHA/VA)Įnsure home appliances are unloaded such as the dishwasher, washer machine, dryer, etc. (FHA/VA)Įnsure furnace and water heater are accessible.Ĭonfirm heating and air conditioning are operational. ![]() Outbuildings such as garages, sheds, pool houses, cabanas, etc. Replace light bulbs so rooms have adequate lighting. ![]() Safety equipment in house installed and working properly. Remove unneeded clutter from attic and crawl space so areas are accessible. Remove locks, furniture, clothing, boxes, or anything that may prevent entry to the attic, crawl spaces, furnace, and water heater. Verify lock box combination and access keys are accessible, and do not lock the storm door from the inside. Remove any snow that will prevent access to the property. Make sure all areas of the home are accessible. Keep a leash on pets or remove them from the property. To help the appraisal go as smoothly as possible we generally recommend you take the following actions and prepare the listed documents, if available, for the appraiser.
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