Daily Real Estate news reports Chicago Tribune, Mary Umberger’s (08/02/2009) findings on how to assure the highest value is calculated for your home by an appraiser.
Maureen Sweeney, a Chicago-area owner of an appraisal firm, gave several tips on getting an accurate and fair appraisal of your property. This is more important than ever due to our declining market-influenced neighborhood values and since foreclosures are now included among the comparables.
No one knows your home better than you, so naturally you should be present during the appraisal. Follow the appraiser around, pointing out improvements you’ve made to the home and provide him with a written list to take with him as well. Provide a copy of the most recent tax bill, any pending assessments, an HOA declaration which shows the amenities and HOA responsibilities to your community, and a copy of the survey to the appraiser.
No one knows your market better than your REALTOR®. Make sure your REALTOR® is present during the appraisal and is asking good questions. Your REALTOR® should make sure the appraiser is aware of the correct neighborhood boundaries and that the appraiser is truly comparing the home to similar properties. Your REALTOR® should provide his or her own list of comparable homes most like yours in the same condition, neighborhood, size and type that have sold and closed in the last 6 months. Your REALTOR® is the best person to offer a professional opinion about what makes your property worth more than any other properties in the immediate area.
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Chrystal Safari’s job? she gives great advice! She is a full-time real estate broker with Peters & Associates, a boutique firm in Charlotte, North Carolina, specializing in luxury homes from $700,000 and up, and is a MASTERS Designee specializing in New Construction, Finance, Marketing, Objection Handling, Relocation, and Technology. Visit ChrystalSafari.com for more information on luxury real estate, and Mark it your new Favorite!