Building enough equity in your home to refinance can be exciting, as this opens the door to funding you and your household may need. In order for your home to be refinanced, it has to go through a home appraisal process to ensure you’re borrowing the right amount in correlation to what your home is worth.
How do I get the most out of my refinance appraisal?
To make sure the appraisal process runs smoothly for the optimal mortgage refinance, there are a few key steps a homeowner can take. Start by doing market research to see how other similar local properties are valued. Gather information about any home upgrades you’ve done, as these can potentially boost your appraisal report.
Boost your curb appeal by making sure junk is off the lawn, the grass is kept neat and plant flowers to add to the appeal of your property.
What hurts a home appraisal for refinance?
There are a few items of high importance to examine proper to getting a home appraisal to ensure positive results. The condition of your heating and cooling systems can negatively affect the appraisal if they need fixing or replacement.
While unique features may delight the owner of a home, this can also have a negative impact on the appraised value due to being difficult to compare against other properties.
Some older homes were built with hazardous materials that are now unacceptable. Getting these materials replaced can increase the chances of a positive home appraisal experience.
Does a messy house impact refinance appraisal?
A messy home usually doesn’t affect an appraisal, however cleaning up the space ahead of time can help the process to go smoothly. A messy home can obscure the features of the space and make it harder for an appraiser to access certain areas.
Using a refinance appraisal checklist can be helpful as you prepare your home to be appraised for refinancing. It’s best to speak with your lender if you have any questions about the process or need help along the way.
About the Author
Richard Powers
Born and raised in Lynn, Massachusetts, Richard has been a successful Real Estate Agent, specializing in the Greater Lynn area for 28 years. He was awarded the prestigious Centurion Award for 19 years in honor of his outstanding number of listings and sales and was the recipient of numerous Diamond Awards for exceptional sales and service.
In his spare time, Rich enjoys golfing, hiking with his dogs and practicing Karate, in which he holds a second-degree black belt. He also enjoys volunteering for various animal rescue groups with his wife of 33 years and is especially dedicated to supporting Faithful Companions, a local non-profit group that helps families in need receive life saving veterinary treatment for their cherished pets.
The next time you need an experienced Real Estate Agent, be sure to give Rich a call. His professionalism and knowledge of the Real Estate Industry are unrivaled.
