Real Estate Community Forum

I am about to have my home appraised and I want to be present when the appraisal inspects my house. The reason for this is because I do not trust them. I am afraid they will appraise my house at a lower value than its worth. In my opinion, an appraiser is very subjective. To maximize my home’s value, I stongly feel every home owner must take an active role in this process. Appraisers are human, which means they are open to influence and can make misinformed judgements on any home. Do you think I am correct for thinking this way? Will the appraiser mind my input? What can I do to help the appraiser get the most accurate value of my home? Any suggestions?

I am always present for an appraisal because as you said appraisers are human and sometimes they overlook upgrades/improvements you've made. It is important for a homeowner to not obstruct an appraiser's inspection but instead to assist them with items that may not be obvious. These items may include central vac, intercom system and other technological upgrades, radiant barrier, hurricane shutters, "tankless" water heater, etc.

I’ve worked with three appraisers on two homes, and all were different. The first was an appraisal on a home I inherited. Since it was co-owned, the issue was inheritance tax, and I did not really need to have the appraiser value it much above the county’s assessment. I simply told the appraiser what was needed, showed him the county appraisal, and he gave the house a value that was reasonably higher than the old assessment. I was very pleased.

The second appraisal was on a new construction which was not complete. The county had not given it a value beyond the old cabin that was originally on the lot. I purchased an adjacent empty lot and needed to get some insurance on the partially built new home, as it was close to fire season, and I also wanted some homeowner’s insurance to cover the crews working at the site. The appraiser delivered a “cost to rebuild” after walking through the structure with me. It was exactly what I needed to obtain the coverage.

The third appraisal was performed when the house was habitable, but not complete on the inside. Its purpose was to allow a home equity line of credit from my bank. I was astonished that there was no actual inspection of the interior, and that the measurements taken by the “second” appraiser were used. Only a “drive-by” inspection was done. The bank paid for the appraisal, the valuation was enough for the line of credit, and everybody was satisfied. For the future, I have documented each room and feature for insurance purposes. I am told by the bank that these should be more than enough for any appraiser to set a value on the property. While I don’t know what the current housing market will do to values in general, I am confident my home will be properly valued should I need that service again.