A home appraisal is a crucial step in many real estate transactions — whether you’re buying a new property, refinancing your mortgage, or preparing to sell. It can determine whether a deal moves forward or hits a roadblock. But what actually happens during an appraisal, and what can you do to influence the result?
Here’s everything you need to know about the home appraisal process — and how to prepare like a pro.
What Is a Home Appraisal?
A home appraisal is a professional estimate of a property’s market value, conducted by a licensed appraiser. Lenders use it to make sure the home is worth the loan amount they’re offering. For buyers, it protects against overpaying. For sellers, it helps set a realistic price.
When Do You Need an Appraisal?
- ✅ Buying a home with a mortgage
- ✅ Refinancing an existing loan
- ✅ Applying for a home equity loan or line of credit
- ✅ Selling to a buyer using financing
Cash buyers typically don’t require an appraisal, but they may still order one for due diligence.
What Does an Appraiser Look For?
- Home size and layout
- Interior and exterior condition
- Renovations or upgrades
- Comparable nearby sales
- Lot size and location
- Safety and code issues
How Long Does It Take?
The onsite visit usually takes under an hour, but the full appraisal report may take a few days depending on workload and complexity.
Can You Influence the Appraisal?
While appraisers must remain unbiased, you can support the process with:
- ✅ A list of recent upgrades with receipts
- ✅ Suggested comps (especially for FSBOs)
- ✅ Notes about the neighborhood or school district
What If the Appraisal Comes in Low?
If the value is below the contract price, you can:
- Negotiate with the seller
- Challenge the appraisal with data
- Make a larger down payment
- Walk away if your contract has an appraisal contingency
How to Prepare Your Home
- 🧽 Clean inside and out
- 🔧 Fix visible issues (peeling paint, squeaky doors, etc.)
- 🌿 Tidy landscaping and entryway
- 📋 Prepare a bullet list of improvements to leave on the counter
Bottom Line
Appraisals are a standard (and crucial) part of the process. Understanding how they work — and how to prep — can help avoid surprises and give your transaction the best chance of success.
Reach out here if you need help finding an experienced agent, appraiser, or mortgage pro in your area.