Christine Natale | Real Estate, Lowell Real Estate, Melrose Real Estate, Essex County


The home appraisal is the process of re-evaluating or revaluing your property to determine the market value either because you want to put the house up for sale or because you want to refinance your mortgage. When you put up your property for sale, you want to have it appraised by a professional as this will give you a fair idea of how much your property is worth.

Financial institutions giving out loans order a home appraisal to ensure the value of the house they are taking as collateral is equal or more than the amount they are providing as a loan. The evaluation helps lenders to avoid losing money if they decide to sell off the property due to failure by the borrower to pay up at the specified time, also known as foreclosure. A certified professional handles a home appraisal and usually has years of training and experience. After the assessment, the expert is expected to give an unbiased opinion about the value of your property. Some things would present your house in a better light and impact on how valuable your property is.

Fix All Damaged Safety Equipment

Ensure all safety equipment that is not working is fixed before the day of appraisal, as lack of these would make you lose points during the inspection. Ensure safety equipment like smoke alarms, security alarms, water heater straps among others are present and functional in your property.

Document Your Renovations

Inform your home appraiser of recent renovations you may have done on the property, the time when you did them and the cost of such repairs. The appraiser might not notice all the changes since it’s not their house, which is why you should bring it to their notice.

A Little Touch Up

Houses with cracked walls, a leaking roof, water-stained walls, signs of pest infestation, damaged floors, or moldy smell will get valued at a lesser amount. Repaint your walls, replace your leaking roof, fix any broken kitchen cabinet, change the doorknobs and generally improve on the appearance of your property. Also, take a walk around and assess the visual appeal yourself to know the things that need fixing ahead of time.

The $500 Rule

Appraisers value property in $500 increments. To be assessed at a higher amount, it’s better to have things like broken doors, damaged floors, old wallpaper, leaky faucets, broken windows repaired immediately. By doing this, you will recover the amount you spent on such repairs in your home appraisal report.

Check Your Yard

You want to take a walk outside your property and do a thorough scan of what might devalue your property, and have it fixed before the home appraiser arrives. Keep your grass and shrubs neat, add some colorful flowers, remove dried leaves littering the yard and whatever clutter will make your yard less attractive. Houses with a welcoming curb appeal receive better appraisals and are considered more valuable in the market.

Your seller's agent can help you prepare for your appraisal so heed their advice.


If you are thinking of buying a home, you probably have been getting your finances for some time. First-time homebuyers need the right information to avoid making big mistakes when they purchase their homes. The leap into home ownership is a big one, and you’ll want as much information with you along for the ride. Below, you’ll find a crash course on mortgages for first-time homebuyers. 


Think Ahead


Every homebuyer needs to prepare ahead of time for the process to be smooth. Research different lenders in your area and see what their rates are. If you talk to your lender about your goals and what type of loans you’re looking for, you’ll understand all of the costs that you’ll face ahead of time. You don’t want any surprises when it comes to signing a contract for a home.


Every Mortgage Is Different


It’s easy to think that all home loans are created equal, but they aren’t. The diversity in types of home loans is why you need to research and meet with a lender ahead of time. Talk to your real estate agent and see who they suggest. Your agent is a useful resource because they want your entire transaction to go smoothly for everyone involved. There are many different kinds of mortgages, and you need to make sure you’re getting the loan that’s right for you. Be sure you understand the specifics of each loan before you sign on.       


What You Need In Order


Before you even head into the home buying process, there are a few things that you’ll need including:


  • Cash for a downpayment
  • A budget
  • Knowledge of all of your finances
  • Where you’d like to look for a home
  • An idea of how much you can spend on a home
  • Information to get pre-approved including tax returns, proof of income, and bank statements


Once you have saved up cash for a downpayment, it’s time to take a look at your budget. Can you afford a monthly mortgage payment in the price range that you hope to buy? How much money will you have left over each month? Should you adjust your expectations? 



You’ll need to save up a bit of cash before you know that you’re ready to buy a home. It’s recommended that you have at least 20 percent of the purchase price of a home to put down towards your loan. The more you put down, the lower your monthly payments will be on the mortgage. So saving is the next big step in securing a mortgage in the smoothest possible way.     




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