It was early morning. Still early enough for the anxious homeowners to deal with an unexpected blanket of snow on this April morning the Appraiser had scheduled his visit. The Appraiser was due to arrive within the hour.
According to the Department of Labor, Appraisers of real estate "estimate the value of real property for a variety of purposes, such as to assess property tax, to determine a sales price, or to determine the amount of a mortgage that might be granted on a property. "
Alert to the importance of this event, and that the Appraiser would be confirming the highest and best use of their property, the couple began to scurry around. The wife cleared a path from the driveway to the door and asked her husband to make coffee. She could smell the freshly baked crumb cake all the way to the pine tree. She and her handsome husband would greet the Appraiser at the door, with the home's features and benefits clearly in mind. (photo of Asheville, N.C. cabin by J.T.)
The Appraiser knew right away that this home was an energy efficient, green-built home and that he had an interested party along on his mission that morning.. And he was right. The couple wisely and happily extolled the home's charms and benefits. As real estate professionals, experience tells us that welcoming and accompanying the Appraiser can work for the positive. We also have found that letting the Appraiser know about the "comparables" can be helpful to an Appraiser. Most Appraisers I know and recommend do an outstanding job and report fairly. If you are present, you can make sure that the attention to detail you deserve occurs. Appraisers can use various methods to figure out the value of a residential property, but it is mostlikely that the Appraiser will determine the value of a property solely on comparable properties nearby and home sales prices.
It is important to make a favorable impression when the Appraiser determines a property's market value.
Get your property to glow. A bit of home-staging could help. Be sure to "de-clutter" and clean every nook and cranny in preparation for the Appraiser's visit. This will assist the Appraiser in seeing the good points of the property. First impressions count, so be sure the landscaping looks spiffy, too . In this case, what could be more beautiful than a newly applied blanket of snow ?
You probably aleady guessed that the couple getting ready for the Aprraiser's visit had scrubbed, polished, cleaned, painted, and fixed-up their already sweet cabin so that it would look its best. They invested a modest $200 in geraniums and pansies to add color to the landscaping (a great story for later on since the plants now were safely stowed inside!) and had budgeted $200 in new paint for the interior. At the time of the appraisal, they were gratified when the Appraiser mentioned the "immaculate condition both inside and out."
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