If you are thinking about selling your home, the job of an appraiser is to look at your house through the “eyes of a buyer”.
If you are thinking about refinancing your home, the job of an appraiser is to look at your house through the “eyes of the lender”.
Appraisers are chosen from a panel of appraisers, and lenders usually have no control over who will be appraising your home.
If there is a mistake on the appraisal report—you (the homeowner) and a real estate agent are basically the only people who can have direct contact with the appraiser. So, it’s critical that you take the following steps and provide information to ensure that you get a fair value assessment for your home.
Here’s what you can do:
Contact your local real estate agent (I can recommend one for you) and find out the prices for homes recently sold in your area.
If you find that some of the homes sold for tens of thousands of dollars LESS than what you perceive the value to be, find out if the home was sold because of a divorce, job relocation or foreclosure. Let the appraiser know – even if they don’t ask you for it. (This holds true regardless if you are selling or refinancing your home.)
Prepare your home—the same way you would if you were holding an open house. While appraisers are supposed to ignore dirty dishes or overgrown bushes, they are only human and it may have some influence on the value.
Giive them a list of your home’s best features. Don’t count on them discovering every detail that makes your home different from the others in your area. Note any recent upgrades, improvements, schools, shopping, unique views, etc.
When you get a copy of the completed appraisal, check for any errors. If you find a mistake, call the appraiser directly (because the loan officer is not allowed to call him/her) and ask to have the information reviewed. If they are NOT willing to update or cannot explain why they won’t change it, you can complain to the local/state appraiser board.
Published by Heather Paige Moody
Welcome! I'm Heather ( AKA: Paige) Moody . A Little About me: I was born and raised in a small town in Eunice, Louisiana where I started my first mortgage company in 2005 at the age of 21 years old. Since 2005 I’ve grown to know everything when it comes to the industry, from owning a mortgage company, processing loans, mortgage underwriting rules, to now managing.
Why I’m in the Mortgage Business:
My family has a history of Banking and real estate . I could see at an early age how satisfying the real estate profession was for them, so I started off as a Real Estate agent and quickly realized that the mortgage side was my passion.
I am a mother of 4 very active kids that have been/ are being raised in the Real Estate /mortgage world. I have always said that their first baby blanket was a file folder.
I love to be able to teach that going the extra mile for others is such a blessing to us as well as the other person. Most importantly that no matter what the obstacle is that we must work hard and give it our all in all that we do. Our family lives at a field or a gym for most of the year. Between baseball, cheer, volleyball, football and anything they can possibly sing up for, I have developed little-known disease called Bleacher Butt.
When I am not working ( or should I say.. not behind my desk) or attending an event for one of the kids . I really enjoy bible studies , reading and listening to podcast. My children go to 2 different schools and I am so blessed to be part of two Mom’s in Prayer groups. It is a National Organization that Moms can get together to pray for our children and our school.
As the Southern Mortgage Mom, I help homebuyers and Real Estate Agents make the Mortgage buying process as stress free as possible. I have been called the miracle worker by clients and agents( on occasion) because I have saved some mortgage loans that others have denied . It has nothing to do with miracles , but all to do with knowing how to get a loan approved.
If I am lucky enough that you chose me or my team as your go to lender, I promise that I will be fair, I will be honest and you will feel like family when you sign the final papers and I will keep in touch (till you tell me not to) long after the mortgage loan is closed. Looking forward to working with you when it comes time to buy a home or refinance your current mortgage.
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