Preparing For A Property Appraisal
Once you’ve received an offer for your home, there are two possibilities. The buyer may have the money to pay for the house immediately. Or they may need to get a bond from a bank.
The bank will need to make sure that the amount of the loan corresponds to the value of the property. They will appoint an assessor to inspect the property before they grant the bond.
As the seller, it’s important to make sure that the assessor gets an accurate impression. They will be looking at the general condition of the property. This includes things like damp, mould, deferred maintenance and structural damage.
The assessor’s report will have a major impact on the approval of the bond. It is in both the buyer’s and seller’s interest that the bond gets approved as soon as possible.
This means that you should take steps to prepare for the appraisal.
It won’t cost much to remove leaves in the gutters. You should fix broken tiles, windows and doors. Repair leaking taps and broken light fixtures.
Consult your estate agent if you have any questions about the appraisal process.
