Your rights and options when a home is appraised
Chapter 1: how appraisals work
Know this
The lender orders the appraisal, usually through a management company, and the appraiser must be independent of the sale. The appraiser inspects the home, studies recent comparable sales nearby, adjusts for differences and gives an opinion of market value. You usually pay for it, but you do not choose or talk to the appraiser about value.
Last reviewed against the primary sources listed below.
What the appraiser looks at
- Size, layout, condition and features.
- Recent nearby sales of similar homes.
- Adjustments for differences between them.
Preparing
- Make the home accessible.
- Have a list of improvements with dates.
- Tidiness does not change value, but access and working systems help the inspection.
Appraisal questions
Do appraisers care if your house is messy?
Clutter itself should not change value, but appraisers need access to every room and must note condition issues.
What not to tell an appraiser?
Do not pressure the appraiser toward a number. You can share factual information such as improvements, through the lender if needed.