Refinance – mortgage. refinance, home loans…

Historically low interest rates have caused thousands of homeowners to refinance mortgages in an effort to lower payments. A typical part of the refinance process is having your home appraised. An appraisal simply consists of a professional touring your home to evaluate the condition of your home and its total market value.

Appraisers make several judgments when determining the value of your home, including a comparison of your home and prices on neighboring houses. In addition, when determining an appraised amount a professional appraiser will look at the home’s general condition, as well as any improvements that increase the value. When having your home appraised, use the following tips to maximize the appraised value of your home.

Clean the House: Make your house sparkle and shine. Cleaning your home adds aesthetic appeal and is the one area where you have ultimate control. Rid your home of clutter. Look over carpets and steam clean them if necessary. Look outside and clean up the lawn.

• Get Rid of Mold and Mildew: Be especially conscience of eliminating mold and mildew in your home.
• Check the Basement: Go over the basement with the proverbial fine tooth comb. Verify that the basement is entirely dry in all areas and that no cracks have developed in the foundation.
• Documentation of Improvements: The appraiser should be aware of any documented improvements to your home. This does not mean that you should stand at the door and follow the appraiser around and point out improvements. It simply means that you should keep a written record of any and all updates. Place the list in a visible place where the appraiser can take note.
• Clarify Room Use: Prior to your appraisal, make the purpose of the room obvious. Do not have a desk and disassembled baby crib in the same room or toys scattered inside of a home office.
• Vacate the Property: When it’s time for the appraisal, leave your home and let the appraiser do her or his job. Simply take the dog and kids to the park and let the appraiser do the job without interruption.

Remember not to panic before the appraisal. Make a thorough list of the items that need to be complete prior to the appraisal process. Do not complete necessary tasks the night before the appraisal but allow more than enough time to complete repairs and clean. Your home should appear as though it is well cared for and maintained.