Home Appraisal Question

[Otto's Doll]

We are having an appraisal done next week for a refi on our Home Equity Loan. Will they expect the house to be spotless? Should the kids rooms be completely cleaned up? My house is clean, but definitely lived in and I was wondering exactly how much we need to clean up/ put away over the weekend. What will they look for?
Thanks for any help you can give!

 

[KTSMOM]

You don't need a spotless home for an appraisal. Matter of fact they really don't spend much time in the house at all. The appraiser will take measurements of the rooms on the inside and then they usually go outside where they look at your lot size and what the house has been built with (brick, siding, etc). It's pretty quick. The rest of the appraisal is done by comparing your home with usually one in your neighborhood of the same size, and 2 in close neighborhoods that are the same size. Now, that was about 3 yrs ago, but that's how ours was done. Hope that helps!

 

[CruiserMom]

Appraisers are looking for basic things: square footage, number of rooms, bedrooms, baths, etc. They also look at the finishes (hardwood floors, granite countertops, nice cabinets, nice appliances), and sometimes outdoor living spaces. Anything that adds (or subtracts) value. It's not like cleaning your house up if you were trying to sell.

Just make sure all the positive features of your house are obvious. As long as things don't look run-down, and rooms are not so cluttered that they hide your home's assets, you will be fine.

 

[bsnyder]

There will be no mention of your housekeeping skills in an appraisal.

But they will take note of the overall condition of the house, among other things. Any deferred maintenance that is visable will detract from the home's value.

 

[Otto's Doll]

Whew! The house is clean, just lived in like I said, but I will be sure that the kids rooms are picked up, and dishes are done before I leave for work. We redid the bathroom last year, and had a new roof put on in May. The basement is the only room I think that we really will have to work on - the kids really make a mess down there, and there are lots of old toys and stuff lying around. Hey - getting them and DH to clean it all up is what I have been trying to do for a long time - this is the perfect excuse! (that is the one place I don't clean - I don't use it, so it is their job - and he gets to supervise!)
Thanks for your input, everyone!

 

[Otto's Doll]

But they will take note of the overall condition of the house, among other things. Any deferred maintenance that is visable will detract from the home's value.

Does deferred maintenance include painting? We had some leaking in the stairwell to the basement last winter. The roof has since been replaced, but we have not repainted the stairwell yet. There are old stains there. Will that be noted on the appraisal do you think?

 

[breezy1077]

Just explain to the appraiser that the leak was fixed - any documentation to show the appraiser would help. But if the appraiser doesn't notice it - I wouldn't say anything.

The appraiser will take interior photos.

With the inspection, they are looking to verify that the info at the courthouse is accurate, and they're looking to see if there is any major damage to the house (like holes in ceiling, floors or walls, making sure foundation is good, etc.).

Like other posters have said - the inspection is very quick. Answer any questions, but don't offer up any info unless you think it will help the value ie new square footage added, etc..

Good luck.

 

[breezy1077]

Oh, and repainting the stairwell should not be considered deferred maintenance - that's mainly for cabinets or siding. Also, if - and it's a big if - the appraiser notices the stairwell and you have the paint but just need to get to the actual painting - make sure you tell him that the materials are onsite.

I think if he mentions the stairwell, it will be just to confirm that the leak has been fixed and is not a current problem.

 

[barkley]

let them know about any hidden improvements as well-when we had an appraisal done on our former home some of the things we mentioned that did result in a higher value was upgraded wiring in the home office, drip irrigation and a sprinkler system on timers, hard wired security system and landscaping that included a drainage system. if your house is similar to houses in the neighborhood that they will be using for comps-make sure they know about any and all upgrades that set your home apart.

 

[Otto's Doll]

Thank you everyone!!