Helping Borrowers/Sellers Know What to Expect in an Appraisal Inspection

An appointment has been set for your appraiser to come to your home.  No need to stress!  We appraisers understand that it can be awkward to have someone come into your home especially if its your first appraisal inspection.  We'd like to ease your stress by giving you some information about what to expect when an appraiser comes for an inspection. 

Here are a five things to know and expect when an appraiser comes to your home:

Access:  You will need to provide access to all areas of your home. The appraiser has been asked by the lender to perform an appraisal of your property.  The appraiser will need to inspect both the interior and the exterior of your home.  The appraiser is required to inspect all rooms including, the garage, utility and attic. The appraiser will take pictures and write notes about his/her observations. Please note this inspection is not the same as a home inspection .  For more information about the difference between a home inspection and an appraisal inspection check out Home Inspection vs Appraisal Inspection.

Information:  You can provide the appraiser with  some information that would be helpful. Make a list of any updates that have been done to your property and when they were done.  Example:  The kitchen and bathroom floors were replaced last year, the appliances were replaced two years ago, etc.  You can also let the appraiser know of any similar homes in your neighborhood that have sold that might not be on the MLS.  The appraiser can try to confirm those sales.                                                                                                                                              

Time:  Depending on the size of your home and if you have additional buildings the inspection could take anywhere for 45 minutes to 1 -2 hours for large complex properties. You do not have to to be with the appraiser the entire time in fact you can just have an initial meeting and then follow up when the appraiser is ready to leave. 

Pets & People: If you have any pets that might not be friendly please secure them as the appraiser will need to inspect the entire perimeter of the house and any outbuildings.     Also people are not allowed in any of the photos that we take so please keep that in mind regarding the people in your home. We have walked in on a few sleeping babies, grandmothers, and college students.                                                                                                                                                                          

Expectations:  You can expect the appraiser to take lots of pictures of the interior and exterior of the property.  The appraiser will also measure your home plus any additional buildings, barns, etc. The appraiser may have a few questions, to confirm some of the data he/she has already researched about your property. The appraiser will not be able to give you a value at the time of the inspection.    Often  homeowners will ask us, "Well, what do you think? or What does it appraise for?"  The appraiser cannot give a value until the entire appraisal process has been completed.  The inspection is a part of the process then additional research and analysis is needed before a value of opinion can be rendered.  Please know that the appraisal report will most likely not be completed the same day. It takes time to research, analyze and compose the appraisal report.      

We hope this was helpful in knowing what to expect when an appraiser comes to your home.  Feel free to contact us at www.dwslaterco.com for any questions or appraisal needs. 

Disclaimer: All information deemed reliable but not guaranteed. The information is meant entirely for educational purposes and casual reading only and is NOT intended for any other use.  This information is NOT intended to support an opinion of value for your appraisal needs or any sort of value conclusion for a loan, litigation, tax appeal or other potential real estate or non real estate purpose.  If you’d like to obtain additional information or order an appraisal for your specific needs, please contact us at www.dwslaterco.com.