If you're looking to get your house appraised, whether you've made significant upgrades to your home or plan to do so in the future, it's important to understand the process and ensure you receive an accurate assessment of your property's value. In this article, we will provide you with a comprehensive guide on how to get your house appraised in seven easy steps.
Start with a Free Online Home Value Estimate
While online home value estimators are not a substitute for a professional appraisal, they can provide you with a helpful starting point in the process. HomeLight's Home Value Estimator, for example, uses recent sales records, market trends, and your home's latest selling price to give you a preliminary range of value for your property in less than two minutes. It's fast, free, and can help you orient yourself in the appraisal process.
Find a Reputable Appraiser
To ensure an accurate appraisal, it's crucial to hire a licensed and certified residential appraiser with experience in your area. Here are some ways to find a reputable appraiser:
Check with Your Lender
If you're refinancing or applying for a mortgage loan, your lender will usually hire an appraiser through an appraisal management company (AMC). While the lender arranges the appraisal, it is typically your responsibility to cover the appraisal fees.
Search Online
If you need to find your own appraiser, you can use online resources such as the Appraisal Institute. This global organization for home appraisers promotes high professional standards and offers a "Find an Appraiser" tool. You can search for an appraiser by ZIP code or use advanced search options to find professionals with specific attributes or specialties.
Get a Referral
Reach out to friends, neighbors, coworkers, or local real estate agents for referrals. Recommendations from people who have recently had their homes appraised or agents familiar with your area can be valuable in finding a trustworthy appraiser.
Choose a Local Expert
Whether you find an appraiser through online searches or referrals, it's crucial to select someone with deep knowledge of the local market and price trends in your area. An appraiser who understands the nuances of your neighborhood can provide an accurate assessment of your property's value.
Ask the Right Questions
When evaluating potential appraisers, ask about their professional designations, licensing or certification in their state, and their years of experience in the industry. You should also verify their credentials through your state's licensing agency. It's important to inquire about their experience with properties similar to yours in style, age, and layout.
Conclusion
Getting your house appraised is an essential step to understand your property's value accurately. By following the seven steps outlined in this guide, you can navigate the appraisal process confidently and ensure you receive an accurate assessment. Whether you've made home improvements or plan to do so in the future, a professional appraisal can help you make informed decisions and maximize your investment.
Remember, while online home value estimators can provide a preliminary idea, they are not a substitute for a professional appraisal. Finding a reputable appraiser who understands the local market is paramount to ensure an accurate assessment. By following the steps outlined in this guide, you'll be well-equipped to navigate the process and obtain a reliable appraisal for your home.