Being a full-time Real Estate Investor, I am constantly navigating loan paperwork and appraisals on a pretty consistent basis.

Over the years I have implemented systems and processes on how to stay organized, keeping all of my property information in one place, and developed a system to get the highest and most accurate value out of my properties.

Most homeowners who purchased their home in 2020 or before are probably sitting on a lot of equity. Some of which, are leveraging some of their equity in order to invest in Real estate.

In my Owning it & Living it programs, I share tips on how to prepare your home for the appraisal to get the highest amount possible. And we have seen win after win!

I help them determine if they should use existing equity to invest, what to fix or what not to prior to having an appraisal, and even what it looks like to appeal the appraisal if the value doesn’t align. 

If you refinance or take out a Home equity loan on your home, there is a good chance that you may need to do an appraisal. So here are some ways to help elevate your results!

5 Proven Ways to Elevate Your Home Appraisal Results

1. Request a full appraisal instead of a desktop appraisal.
When you are applying for a home equity loan or refinancing your home your mortgage company may offer to run a desktop appraisal at no cost to you instead of you paying out of pocket for a full appraisal. In a lot of cases the desktop appraisal may not appraise your home at its full value. Recently I took out a Heloc (Home equity line of credit) on my personal home and the desktop appraisal showed $400,000 but when the appraisal came out and performed a full appraisal our home appraised for over $700,000! That is a $300,000 difference! If your value doesn’t come back at the original amount that you desired be sure to order a full appraisal.

2. Declutter your home, hire a professional cleaner and ensure that your home looks stage ready!
This is one of the most important parts of the process. You want the appraiser to be able to see your home in the best shape possible, it’s hard to see that if you have things everywhere. I know how much of a hassle this is but not doing this step can affect the appraiser’s perception of the condition of your home and it can cost you thousands…. (If the appraiser reaches out and you’re not ready for the come you can always reschedule to a later date when your home is ready)

3. Remove personal pictures if you can.
Study shows that African American homeowners receive lower appraisal values than our white counterparts. This is an unfortunate truth that minorities have to deal with everyday. Add neutral art to your walls when preparing for an appraisal.

4. Leave your appraiser a list of recently sold comparable properties that have sold within the last 90 days in your area.
Believe it or not, this makes the appraiser’s job easier! You can help them streamline their report to recent sales that actually are comparable to your property. Also this helps them if they missed one or are having a hard time finding some.

5. Send a follow up email to the appraiser
Sending a quick thank you note for appraising your property while include a list of enhancements and repairs you’ve made to the property with information on upcoming developments coming to your area can be a game changer. Appraisers don’t just work in your neighborhood. Chances are, they work all over and it’s impossible to keep up with the development happening in every area. Upcoming development and the housing demand in your area impacts the value of your home. In addition,  walking them through any improvements made also helps them when putting their report together.

Are you expecting to get an appraisal on your home done soon? If so, what do you need to do to prepare?

Let me know!