Property Appraisal: Everything You Wanted to Know

A bit of preparation is the best way to get a higher estimate when doing a property appraisal. In this post by Riva Title Company in South Miami, we’ll discuss a few ways you can prepare. 

Whether you own a commercial space, an apartment, or a house, appraising it is an excellent way to know its market value. If you’re planning on selling your property or getting a second mortgage, one of the first things you should do is have it appraised. Preparing your home for the appraisal process is extremely important, as preparing can be the difference between a low or a high result. Remember that a higher appraisal can help you price your home higher. Keep reading this post to learn more about preparing your property for an appraisal.

Having a professional team is essential when planning to sell. For information on how title insurance can help protect your investment, call Riva Title Company at 786-787-7888, and one of their agents will answer all your questions.

Picking the Right Appraiser

Getting an accurate property appraisal has a lot to do with choosing the right appraiser for the job. In many cases, if you’re looking to sell your property and you’re working with a real estate agent, they’ll have a trusted appraiser they’re used to working with. If you’re not working with an agent, it’s best to ask friends and family for recommendations on appraisers they’ve hired before. Once you have a recommendation, it’s essential to look at their experience, certifications, and references before hiring them. You’ll also need to assess if they have the right work ethic and expertise to ensure they do the best job possible when appraising your property.

What Will an Appraiser Look For

Knowing how to prepare for an appraisal and knowing what the appraiser will look at is a big part of preparing for it. A few of the things appraisers usually look at are:

• The property’s general condition.
• The state of the property’s records.
• The amenities that the property includes.
• The neighborhood or area where the property is located.
• The state of the housing market.

These factors are essential for a complete result and will inform the final price your appraiser will give you. While these are the usual factors an appraiser will look at, it’s essential to communicate with your appraiser and ask about any expectations they might have or any doubts in the process. This will not only help you create a plan for your property appraisal to go smoothly, but it will also help you determine if the appraisal process was done correctly.

For a successful real estate transaction, ensure you have the right people on your side. Riva Title Company can help you with everything from title services related to title insurance and title searches. Call 786-787-7888, and an agent will help you in no time.

Getting Your Property Ready

Knowing what your appraiser will look at can help you prepare the property to show it in its best light. Arranging your furniture and tidying up is an excellent first step, but in order to get a better appraisal, you’ll need to spend a bit more time on the details. Here are three things you can do for a better assessment:

• Curb appeal: Think of curb appeal as the first impression your house will give. It’s essential to clean up your porch and make it inviting with a functioning porch light. If you have a garden, make sure to tend to it for it to look as lovely as possible. 
• Deep cleaning: Next, deep clean the entire property. If there are nooks and crannies you usually don’t tend to, clean those too. Try decluttering each room to help the property look more spacious.
• Minor repairs: Perform minor maintenance like tightening loose screws, fixing leaky faucets, replacing burnt lightbulbs, and repainting faded or dirty walls to help the property look more put together.

Collect Important Documents

Lastly, the appraisal process will also look at your property documents to make an assessment. Keeping them handy can help you have a much smoother and more efficient property appraisal. Some of the documents an appraiser will look at are:

• Receipts
• Legal paperwork
• Property records

Before your appraisal, ensure you have everything you need, and if in doubt, ask your appraiser what paperwork they need before they visit your property.

Having the right title company by your side is as important as hiring the right appraiser. Protect your assets by having the right professionals by your side during your real estate transactions. Call Riva Title Company today at 786-787-7888 and learn what you need to know about title insurance and title services today!