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Mortgage News

How Do I Get The Highest Appraised Value?

June 13th, 2011 1:37 PM

A question I get asked frequently is, "How do I get the highest value on the appraisal of a home that I am selling or refinancing?"

Whether you are selling, or refinancing to lower your payments or pulling money out of your home to pay off bills or invest, here is the best insider secret that you can do to get the highest dollar amount on your appraisal.

First, prepare a written list of your home's features to hand to the appraiser.

Second, if possible, take pictures of the best features of your home, inside and out. Put these on a cd to give to the appraiser.

You see, busy appraisers might inspect three to six homes per day. Although they take notes on their appraisal forms, and the photos help jog their memory, even the best appraisers can't remember all the details of each residence and they probably didn't take as many pictures as you would have.

That's why it is critical to hand the appraiser a list of your home's special features along with pictures of them. Don't be shy about stating the sales price and/or your estimate of your home's market value. However, be realistic when estimating market value and be sure it is based on recent sales, not asking prices of nearby comparable homes.

Although some appraisers say they resent it when the homeowner or realtor tells them to "hit the mark" and come up with an appraised value close to the stated amount. You can do this in a nice way to let the appraiser know what you think your home is worth and why. (Just don't be pushy.)

This is a very effective strategy, just keep in mind that honest appraisers won't over-value a home, so don't expect miracles.

By the way, I have a quick question for you. If you are not in the best loan program for your current situation, when would you want to know?

If you are not properly utilizing the equity in your home or you are losing thousands of dollars each year and paying income tax that you don't need to pay, when would you want to know that?

This is one of the secret weapons of the rich. Don't lose out!

If you call me right away, we can schedule your complimentary yearly mortgage review and see how much we can save you!

The first 8 people to schedule an appointment with me, will get one of my last copies of a great book that is literally an instruction manual to achieve wealth and stop living from paycheck to paycheck. This book, Think and Grow Rich, has literally changed the lives of thousands of people.

Posted by Brian Brown on June 13th, 2011 1:37 PMPost a Comment (0)