Mistake 1: limiting access
Randy's published process includes an on-site visit, so the appraiser can describe what is accessible. If a room, garage or attic is locked or cluttered, ask the appraiser how it will be handled: the report may describe it as not observed, or the scope may rely on other data. Scope varies by assignment, so ask about the scope, assumptions and limitations. Open every area, turn on the lights and clear a path.
Mistake 2: leaving out improvements
Upgrades and additions affect value, and the appraiser cannot account for what is not known. Keep a dated list of what you changed, with permits or receipts if you have them. Give it at the start of the visit, not after the report is written.
Mistake 3: giving inaccurate facts
Appraisers verify data from reliable sources. The Fannie Mae Selling Guide, which governs mortgage loans sold to Fannie Mae, expects the appraiser to verify information from a party with a financial interest in a sale or financing with a disinterested source. A wrong square footage or a feature that does not exist wastes the visit. Say what you know and say what you are unsure of.
Mistake 4: treating the visit as a negotiation
The appraiser is not choosing a price with you. The report states a value from the evidence. Arguing for a number during the visit does not change the evidence, and it can take time from the inspection. Give facts, and raise questions about the report afterward in writing.
Mistake 5: ignoring the report afterward
Read it. Check the description of your home, the dates of the comparable sales and whether the adjustments make sense. A factual error can be corrected if you say so with proof.
What to tell the appraiser, and what not to
Tell the appraiser accurate facts, and do not try to steer the result. Share the improvements, repairs and known conditions you are aware of, and say what you are unsure of. Do not hide a defect, overstate an improvement or ask the appraiser to reach a particular number. The Fannie Mae Selling Guide, which governs mortgage loans sold to Fannie Mae, expects the appraiser to verify information from a party with a financial interest against a disinterested source, so a claim you cannot support adds little. This guide does not treat "red flag" as a defined regulatory term. Here it means a fact in the report that does not match your property or the public records, such as a wrong square footage or a feature the home does not have. If you find one, raise it as a factual question in writing, as described in mistake 5.
Have ready
A short preparation checklist
Checklist
- Make every room and outbuilding accessible.
- Prepare a dated list of improvements and repairs.
- Gather plans, prior appraisals or permits.
- Tell the appraiser who will rely on the report.
- Make arrangements for pets and occupants.
For the full process, read how a home appraisal works. To understand the method, read how appraisers determine home value.
Frequently asked questions
Should I clean before the visit?
Make rooms accessible and tidy enough to be seen. Cleaning does not change the facts of the home, and an appraiser is not scoring housekeeping.
Should I fix small repairs first?
That is your decision. Tell the appraiser about repairs you made and about those not made, so the report describes the home as it is.
Can I be present during the visit?
Someone should be there to open the property. Arrange who attends when you schedule.
What if I find an error afterward?
Write to the appraiser, name the fact and attach proof.