Match the appraisal to its intended use, then prepare property information and access.
Choose a Qualified, Licensed AppraiserVerify the assigned appraiser’s current credentials and discuss experience with the property type and local market.For a loan appraisal, ask the lender about its ordering process. For a private assignment, discuss the intended use with the provider.Prepare Necessary DocumentsGather relevant documents such as recent tax assessments, records of upgrades or renovations, and a list of major repairs or improvements.Have a copy of your property survey and any recent sales information for comparable homes in your neighborhood.Clean, Declutter, and Make RepairsDeep clean your home, declutter spaces, and make minor repairs to create a positive impression.Improve curb appeal by tidying up landscaping, mowing the lawn, and addressing any visible exterior issues.Investigate Comparable Sales (“Comps”)Research relevant recent sales and provide their details for consideration.If working with a real estate agent, ask them to provide a comparative market analysis (CMA) to help you and the appraiser understand local pricing trends.Consider Free or Informal Appraisal Options (for Estimates)Online estimates can provide a starting point, but their data and scope may differ from an appraisal.A real estate professional’s pricing analysis may be useful for a listing discussion. Confirm what the intended recipient needs before relying on it.Schedule and Attend the AppraisalCoordinate with the appraiser for a convenient time for the on-site visit.Be present during the appraisal if possible, to answer questions and point out upgrades or unique features.Review the Appraisal ReportOnce completed, review the appraiser’s report for accuracy, especially details about your property and the comparables used.If you notice errors or disagree with the valuation, notify your lender or the appraiser and provide supporting evidence for a reconsideration.Types of Appraisals
| Scope | Information gathering |
|---|
| Interior visit | Appraiser visits the property under the agreed scope |
| Hybrid | Property information gathering and appraisal analysis may involve different people |
| Desktop | Appraiser relies on available records and other sources without an interior visit |
| Exterior-only visit | Exterior observations supplement the records and analysis |
Tips for a Successful Appraisal
Make minor repairs and upgrades before the appraisal.Provide a list of recent improvements and their costs.Arrange access to requested areas and explain any limitations in advance.Present documentation for any unique features or additions.Cost and Payment
The borrower (homeowner or buyer) usually pays for the appraisal unless otherwise negotiated.