Do you wonder what an appraiser actually looks for when appraising your home? Here are the top 5 things that they look for when determining the value of your home.
1- House Square Footage, this is measured from the exterior of the home.
2- Verifying the bedroom counts. They must have a closet, a window, and heat source.
3- Verifying condition and upgrades. Using a visual inspection they will verify the condition of the home.
4- Health and safety items. Especially with VA or FHA loans, the condition of the home has to qualify to minimum standards of safety for those loan types.
5- They are trying to justify the contract price. They don’t give you an exact value, they will just try to justify the price of the contract to ensure the bank isn’t loaning more value than the home is worth.
@seasonsrealestatewhat does an appraiser really look for??