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Editor’s Note: This story originally appeared on Point2.
A home appraisal is an essential part of buying or selling a property and even applying for refinancing.
But what do appraisers actually look for when they visit?
In this guide, we’ll cover the main items on an appraiser’s checklist and how they can affect the value of a property.
The Home Appraiser’s Checklist
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Broadly speaking, a home appraiser will check the size, function, and condition of the property.
In addition to this, they will also factor in amenities and home improvements, as well as items not pertaining to the property itself, such as the local market. Here are the main items on their list.
Outside the Property
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Here’s what an appraiser looks at outside:
- Age and size of the property
- The condition the property is in compared with neighboring properties
- The state of the foundation, windows, and exterior walls
- The age and condition of the roof, as well as gutters and downspouts
- The driveway and off-street parking
- The garage and the number of cars it can fit
- Landscaping and how well it’s being maintained
- Accessory Dwelling Units such as a separate guest house on the property premises
- Outdoor amenities such as a swimming pool, a patio or porch, or a fire pit
- Signs of pest and water damage
- HVAC unit
- Septic tank versus sewer
- Solar panels and outdoor energy-efficient improvements
- Types of utilities used (gas, electricity, water) and whether they’re connected to a public provider
Inside the Property
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Here’s what an appraiser looks at on the inside:
- The layout of the property, floor plan, and gross building area
- Number of rooms, bedrooms, bathrooms
- Types of appliances
- Fireplaces
- Types of materials used for the floor, walls, and trim, and the condition they’re in
- The way the home is styled and whether the decor is new or dated
- Home improvements and renovations
- Signs of pest infestations, water damage, and mold
- The condition the attic and basement are in, and whether there’s a sump pump in the basement
Beyond Property Limits
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Here are other factors an appraiser considers:
- Location: rural, urban, or suburban
- …….
Source: https://www.moneytalksnews.com/slideshows/what-do-home-appraisers-look-for/