How to get the most out of the appraisal, tips and tricks

[Dan Bryskin]

We all deal with appraisals. Weaver  it's a bank or buyers appraisal the objective remains the same, get the highest number. We do it by  helping the appraiser do his job. 

We meet appraiser on site with the binder for the property. First, I want to know how familiar appraiser is with the area, trends, price bracket. Then we walk through the house. I usually show before, after and during pictures. I also point out what we did in this space, why and how it's different from the competition. For example, fiber board instead of sheetrock, nicer windows, better plumbing fixtures, solid vs hollow core doors. 

Next we provide appraiser our own comps.  Appraiser will be looking for sales within 1/2 of the mile radius, same property type and 6 months back. But at times it is hard to find comp. In this case we look far and wide, extending both search radius and time frame. Some times we look at different property types. For example I make a perfectly valid argument, one story house should be priced the same or more as two story, or two story vs story and a half. 

Comps are send to the appraiser with the e-mail outlining key points. For example, 

• One of the very few properties in the neighborhood with master suite
• Has open layout
• Bigger lot
• Over-sized garage
• bigger bathrooms

• Some times we will provide an appraiser with our actual budget, but always with a lot of pictures. How do you handle appraisals? What are you tips, tricks, strategies?