Are you buying or selling a home in the Palm Springs area? Here are some tips on how to get a fair appraisal on that home.

1. Do not blindly trust the person who comes out to appraise your home.

Ultimately, it’s up to you to make sure your Palm Springs home is not valued below your sale price or loan limit. Many banks have recently been put under scrutiny for pressuring appraisers to inflate property values. As a result, banks are now required to work with independent appraisers in an effort to stop buyers from overpaying. However, some appraisal-management companies hire employees who get the job done quickly and cheaply. You want to have an appraiser who knows the area best and takes their time to do a quality inspection.

Photo by Karol

2. Prepare your home the same way as you would for an open house.

Remember, it’s the appraiser’s job to look at your house through the eyes of a buyer. Keeping that in mind, take a step back and see if your house has that curb appeal to attract buyers, and tidy up inside so it is presentable.

3. Do your research.

A main factor in your house’s appraisal is the recent sales prices for houses comparable to yours. Appraisers may not know if there are any unusual circumstances behind those numbers however, so it’s important to investigate yourself and see if you can provide additional information. Ask your neighbors about the circumstances of the recent sales. Also, ask a Palm Springs Realtor to help you identify the latest comparable sales in your neighborhood.

4. Write a “house resume” to give to the appraiser.

Appraisers are busy and usually on a time schedule, so they may overlook some of the best features your home has to offer. Before he begins his inspection, hand him some information on its best characteristics, including:

• any recent upgrades (new windows, any custom work)
• property perks (views and landscaping)
• neighborhood benefits (schools, shopping, public transport)

5. Follow up and double check the report for any errors.

Lenders are required to give you a copy of the finished report. Make sure you request a copy, check for errors and make sure comments accurately describe your property. If you do happen to find a mistake, contact the appraiser directly and politely ask him to recheck his work. If he is not willing, file your complaint with the California real estate appraisal board. While your lender cannot meddle with the appraisal directly, it’s worth letting them know about your complaint as well.

Interested in buying or selling a home in the Palm Springs or Coachella Valley area? Contact Patrick Stewart Properties today.