When selling a home or refinancing, an appraiser will determine your home’s value on the current market, which may be different than what you paid for it. Hopefully your home will have risen in value so you can sell it at a profit or more easily refinance your mortgage. But if the appraiser assesses your home at a lower value — common during the real-estate slump that started in 2008 — it could be more difficult to refinance or to recoup your money when you sell.
The appraisal process is meant to be objective. To determine market value, appraisers look at factors such as your home’s square footage, materials, amenities and condition and compare these factors to comparable properties, or “comps,” that have recently sold in your area.
In other words, it’s unlikely that you can simply charm an appraiser into thinking your home is worth a lot more than it is. Save the fresh-cut flowers on the dining room table and cookies baking in the oven for when you’re showing the place to potential buyers.
Little Rock News: Use the Read more link below to see the seven ways to increase your home value.
Read more: Strategies To Increase Home Appraisal Value | Investopedia https://www.investopedia.com/articles/personal-finance/032015/strategies-increase-home-appraisal-value.asp#ixzz5TSTsmxNX
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