Preparing Your Property for the Refinance Appraisal

By Ryan Lawrence, EDC Loan Consultant

In today’s tight real estate market investors need every advantage they can get to get top value for their property. One of the easiest ways to do this is to increase the "curb appeal" of your home. Curb appeal is quite simply cleaning up the outside of your home and property to give the appraiser a good immediate first impression. There are many things you can do to increase the curb appeal such as making sure the bushes are trimmed and the lawn is mowed. Nothing looks worse then unmoved lawn and bushes that are growing wild! Don’t have the appraiser come out when you haven’t completed the landscaping.

Work on your landscaping beds, add some colorful flowers (depending on the time of year) and try to create a peaceful, yet beautiful environment. Make the front walk to your front door appear beautiful and inviting. Edge around all of the walks, the driveway, and patio (if possible), and everywhere else that edging can be done. Rake all leaves and dispose of during applicable seasons. Fill all bare spots in the yard with new grass seed. It is important to remember that shrubs and bushes really never stop growing. Overgrown shrubs can obscure the actual size and appeal of your home. Spreading some fresh mulch and planting some brightly colored flowers can go a long way in increasing curb appeal. Check on your mailbox and replace or re-paint if needed. Replace, repaint, or re-tarnish your address numbers that are located on your home, mailbox and/or curb by the street. Have your EDC Territory Director give you some ideas on what to do to get better “curb appeal”.

On a survey taken by real estate professionals, touching up the trim on the house will enhance curb appeal. If your property has exterior painting in the budget, then spend some time really thinking about the colors you are going to use. How can you make your property stand out from the rest on the block? Again, ask your EDC territory director for his input.

A clean and neat exterior will let the potential buyer know that you have kept the house in good repair. Hire a window washing service to professionally clean windows and clear away paint or construction debris.  One technique used by seasoned investors is to have the house smell appealing when the appraiser shows up. A fresh smelling home can easily be accomplished with scented candles. Be sure and turn on the furnace fan to circulate the scent throughout the home about 1 hour before. This all might sound crazy but the appraisal is just as important as if you were selling the property.

Most importantly - make sure to meet your appraiser at the property and make sure that everything above is done. Get to the property an hour before the appraiser is scheduled to come. Turn on all the lights; make sure the temperature is comfortable. Air out the property and get something to give it a warm fragrance. Make sure there is no construction debris anywhere on property. When you meet the appraiser, give him a copy of your subject-to-repair appraisal you had done at the inception of the project.  It is very important to also print out a nice and easily read list of repairs and upgrades you did on the property that helps justify the new value. When walking around with the appraiser, be sure to point out all the work you did and be proud of your investment.  Remember, an appraisal is not only based on facts it is also based on the appraiser's opinion of value.
 
 
Home | Contact Info | E-Mail Contact | Directions | Privacy Statement | Terms of Use
All Rights Reserved by Equity Development Corporation
Site by Marathon Consulting