
For decades there has always been a difference of opinion with homeowners and an appraiser when they need that critical number to match the refinance package that is underway with their lender.
The appraiser value opinion is only 1 opinion…but guess what, it’s the opinion that counts with your lender.
Here are some ways you can sabotage yourself:
1) Leaving the home untidy. Having an un-kept exterior or interior can cause an appraiser to decrease the value somewhat. Reminder owners – curb appeal is also important for an appraisal. Overgrown bushes or an un-kept home exterior could prompt an appraiser to take as much as 3 percent off the value, according to a CNN Money article.
2) Having incomplete remodeling projects. Don’t keep a remodeling project unfinished prior to an appraisal. If it’s a must, make sure you include details of the complete project and when it is to be finished to the appraiser.
3) Failing to list improvements or upgrades made to the home. Compile a list of upgrades and home improvements made to the home and provide it to the appraiser. While some items, like a new roof, may not help raise the appraised value, other items might. Source: Realty Times
So needless to say, all the complaining in the world to your lender won’t overcome the self sabotage…take care of projects, clean up and focus on the homes overall presentation before starting your refinance package. Treat the home like you were getting it ready to go up for sale. Lots of preparation, repairs and primping is worth all the effort. Because, when the time comes for that appraisal value analysis…you’ll be glad you did!
We Are Now Accepting Qualified Listings
Now providing “Short Sale Services”
Call Today for More Info on Our
Marketing Plan
And thank you for making me Your Orange County Real Estate Connection.
www.MichaelCarusoRealEstate.com
Best regards,
Michael Caruso, Broker ABR ABRM CLHMS CRB CRS GREEN GRI
Past President, Orange County Association of Realtors (949) 495-8600
Posted in Uncategorized, Blogroll, Consumer Awareness, California, Orange County, Thoughts, Tips, Marketing, social media, Coastal living, Home Buyers, Real Estate Advice, Caruso's Thoughts, Appraisals, Lender, Homebuyers, Homeowners, Refinance
Tags: Orange County, costa mesa, huntington beach, irvine, los alamitos, newport beach, seal beach, tustin, Laguna Niguel, Aliso Viejo, Coto de Caza, Dana Point, Ladera Ranch, Laguna Beach, Laguna Hills, Laguna Woods, Lake Forest, Mission Viejo, Rancho Santa Margarita, San Clemente, San Juan Capistrano, real estate, south orange county