Feeling uncomfortable about letting an appraiser into your home? Not to worry, our friends at Adlaw Appraisals have given us their top 7 things to expect during an appraisal visit.
- The appraiser should show up on time and will have a business card to provide the homeowner or realtor upon arrival.
- An appraisal visit is NOT a home inspection and can last anywhere from 10 minutes for a small condo up to 45 minutes for a detached single-family home.
- The appraiser will look for positive or negative site influences, as well as the age and quality of the home. The appraiser will make notes on any updates to the property (ex. new kitchen, windows, landscaping, etc). If you have done substantial updates to your home, it is recommended to make a list of your updates and provide it to the appraiser at the time of the appointment.
- The appraiser will need full access to all of the rooms, suites, and outbuildings (including sheds and garages). The appraiser will also need to take a look at the electrical panel and mechanical room, so being aware of where these are located will ensure a smoother site visit. Lastly, the appraiser does NOT need access to the crawl space, the attic, the roof, or any amenities (in a stratified building/complex).
- The home does not have to be “showcase” ready but a general clean is recommended so the appraiser can see the quality of the flooring and condition of the countertops throughout the home.
- For mortgage financing appraisals, most lenders require a photo of every room on the property, including the garage and any outbuildings. With that, it is essential to be prepared to provide access to all areas of the property to avoid any delays to the financing or a re-visit, which will typically cost a re-inspection fee.
- The report is always delivered via email to the client within 24 to 48 hours of visiting the property. Please note: "the client" in the appraisal process is the company or individual that initiated contact with the appraisal firm and submitted the appraisal request, regardless of who pays for the appraisal.
Looking to learn more about appraisals? Got more questions? Listen to my I Love Vancouver Real Estate Podcast with Adlaw owner Adam Lawrenson where we discuss them in detail and share a few things you may not know! Click here for the podcast.
If you have any questions please feel free to call me or contact Adlaw at 604-809-8506 or info@adlawappraisals.com.