The fair price for your home is determined by an appraisal. If you’re not sure of its value, get it inspected and estimated so the buyers know what they are getting into before making their decision on whether or not this could be a good fit.
A lot can happen in just one year – things change with time; people grow older while others may die unexpectedly which means there will soon only exist more mouths to feed than hands willing/able bodied adults left atrophying away inside our social environments until eventually all that.
It is very essential to get an accurate price for your home. If the price is too high, then the buyers may not be interested to buy and your house may sit on the market for many months. If the price is too low, then you may not get more money from the sale.
If your home is ready for the appraisal, follow the following checklist.
Home Appraisal Checklist
The crucial things on any home appraisal checklist are those that need repairs. If possible, you can make those repairs before listing your home for sale, so you can sell it at a higher price.
Renovations may hide your home’s age, but they can be a wise investment too. Changing the old carpet and outdated facility may improve your appraiser’s opinion.
Ensure that your home conforms to this checklist:
- Plumbing issues
- Roof leaks or damage
- Working garage door and opener
- Foundation without water infiltration or damage
- Functional electricity, water, and air conditioning
- Safe and secure doors
- Safe handrails along with any steps
- Free of crack walls and ceilings
Again, what you really want to talk about is based on your budget, but to avoid any surprises check out this checklist before making a formal estimate.
FHA Home Appraisal Checklist
If you want to get an FHA loan, your checklist may be a little different. Because the FHA loan may not be accepted if the home does not meet some requirements.
FHA home appraisals will check for things like:
- Water damage signs
- Damaged siding
- A driveway or sidewalk that needs repair
- Exposed floorboards
- A leaky roof
- Unsecure wall studs
- Peeling paint
This is very crucial to remember, even as the seller. If your home is affected by these issues, you could lose several potential buyers.
VA Home Appraisal Checklist
Like the FHA home loan, VA loans provide some conditions. It is given by private lenders and is created to help veterans, service members, and surviving spouses. Even though the Veterans Association is trying to make every effort to enhance these loans to its members, they can’t finance the purchase of a dilapidated home.
If the potential buyer may be using a VA loan to buy your home, your home appraisal checklist should look for the following:
- Secure foundation
- Sound roof
- Clean drinking water
- Functioning heating and air conditioning
- Working sewer system
- Working water heater
An appraiser will also need a pest inspection done to assure that no housing termites or other uninvited guests are kept secret.
How to Prepare for a Home Appraisal?
- Collect all necessary paperwork beforehand.
- Repair any squeaks, repairs, or peeling paint.
- Clean out your attic
- Ensure that your HVAC is functioning properly.
- Secure the handrails along with strains.
- Provide a deep clean to your home. (include carpet cleaning, floor cleaning, and removing scuffs from the walls)