No matter if you’re planning to put your home for sale or refinancing your mortgage, lenders, sellers, and buyers alike need to get professional appraisers to help determine the real value of a home. Unfortunately, working with licensed appraisers can be a difficult task. From slow turn times to increasingly high fees, lenders and buyers face various problems when acquiring an appraisal.
In fact, in-depth research reveals that appraisal turn times in certain regions like the Pacific Northwest is double that of neighboring regions. Plus, the sudden increase in supply and demand for appraisers resulted in a spike in appraiser fees. Luckily, there are several ways you can shorten the home appraisal process. Here we discuss top tips to reduce turn times:
Why Get a Home Appraisal?
No matter if you’re purchasing a new house or selling one, you’ll need an accurate home appraisal. Let’s see what causes people to seek a home appraisal:
You’ll require a home appraisal report before refinancing your home. The reason being that the report helps ensure the refinanced loan amount matches the value of the house.
How Long Does a Home Appraisal Take?
An appraisal may take anywhere between two days to a whole week from when buyers, sellers, and lenders request one. The time necessary to gauge a property may differ based on several characteristics, including property size, age, condition, and the appraiser’s approach to appraise the property.
Top 3 Tips to Shorten Your Home Appraisal Process
Dealing with home appraisals can be a hassle. Here we discuss ways you can shorten your home appraisal process:
What Features Does an Appraiser Look for?
One other excellent way to prepare yourself for a home appraisal to help shorten the process is by collating information about your home and its unique characteristics. However, for this, homeowners need to be aware of what features grab an appraiser’s attention. These are as follows:
Repairs and modifications of kitchens, baths, windows, roof, and the HVAC systems in the past 15 years. They may also consider whether the improvements ensure your house is up-to-date with modern living standards
Features that downgrade your home’s appeal are inconsistent exterior appearance, cracks in the window, broken roof, and so on.
Learning your neighborhood’s turn times gives you a pretty solid idea of what they will be like in your area. Studying the appraiser process in-depth and spotting things they look for can help lenders adequately prepare themselves before the appraiser process.
In addition, aggregating information about unique characteristics and offering records help decrease turn times. By keeping these tips and techniques in mind, you can shorten the home appraisal process.
Seeking an insightful appraisal? Reach out to our professionals here at AmeriMac to connect with expert appraisers who provide in-depth appraisals within record time and according to your needs. Our highly trained team ensures you receive it in 5 to 7 days!