How to Receive an Accurate Appraisal; Correctly Price that Florida Home Loan
Are you buying a house? Looking to secure a reasonable Florida home loan? No matter which side of the real estate equation you’re on, an appraisal offers value. But how can you be assured of an accurate one? Expert Bob Bruss offers the following tips in the best ways to understand true market value …
1.) GET THE HOME INTO TIP-TOP CONDITION. If you are buying a house or condo, the seller has presumably made the residence look its best. However, if you own the home and need an appraisal for Florida home loan refinancing or other purposess, aim to put the home into its best “model home” condition before the appraiser arrives.
Because appraisers often inspect three or more houses each day, and can’t possibly remember each home’s special features, it is best to hand the appraiser a list of the residence’s special features, especially those that add market value. Also, if you know of recent nearby home prices, be sure to hand that information to the appraiser.
2.) ALWAYS ACCOMPANY THE APPRAISER. Either the real estate agent or the homeowner should always accompany the appraiser to facilitate the inspection and answer the appraiser’s questions. Be sure to point out the home’s special features and benefits that the appraiser might miss during the inspection.
3.) INSIST THE LENDER WILL PROMPTLY PROVIDE THE BORROWER WITH A COPY OF THE APPRAISAL. Technically, the appraisal belongs to the Florida home loan lender who hired the appraiser, even when the homeowner or home buyer is paying for the appraisal.
Borrowers should insist their lender agrees to promptly provide the borrower with a copy of the appraisal. If the appraisal comes in low, the home buyer, realty agent, and homeowner should have immediate access to that appraisal to correct any errors.
So there you have it. Issues such as when to close on your Florida home loan, and what sort of price the appraiser places on property, go a long way toward deciding the final costs to the buyer.
