5 Home Problems That Could Drag Down Your Appraisal

When you sell your home in Knoxville, your buyers’ lender will send out an appraiser. The appraiser’s job is to make sure the home is worth what you’re asking – or, more specifically, to determine how much money the lender is willing to let your buyers borrow. Lenders don’t want to get into a losing investment, so the appraiser is there to protect them.

However, you want your home to appraise as high as possible. That’s because after you’ve accepted an offer, you need the buyer to follow through with the cash (and that cash comes from the lender). You can help your chances at a great valuation by addressing these five things that could drag down the appraisal.

5 Home Problems That Could Drag Down Your Appraisal

The most common problems that pull down a home’s value include:

  1. A mess (seriously!)
  2. Closet space
  3. Damage to flooring
  4. The home’s HVAC system
  5. Curb appeal

Here’s a closer look at each.

How a Messy Home Affects an Appraisal

Though a good appraiser will try to look past a messy home, you have to know that clutter and mismanaged items make it seem like you’re not taking care of the home – and appraisers tend to think that if you haven’t managed the interior’s cleanliness, you haven’t taken the time to care for the home’s systems.

The bottom line is that you don’t want to do anything that makes the appraiser feel that way – or that makes the appraiser have to do extra work to find the home’s value.

How Closet Space Affects an Appraisal

Buyers love closet space, and homes with lots of it tend to sell for more than homes with very little. Although you can’t necessarily expand your closets just to sell your home, you can empty them out as much as possible. Start by removing all seasonal clothing, plus everything that isn’t clothing; then, if you haven’t removed at least a third of the items hanging there, keep going. Your closet floor and shelves should be completely empty before the appraisal to show how much available storage space there is.

Related: 3 mortgage myths you should ignore

How Damage to Flooring Affects an Appraisal

Appraisers look at the condition of a home’s floors in judging its overall value, and damaged or dirty flooring can make a serious impact. Carpet is generally the worst culprit – and it can even affect how much buyers are willing to pay – so it may be in your best interest to redo the floors as your budget allows. You should talk to your Knoxville REALTOR® before you make an investment, though, just to make sure it’s worthwhile.

How the Home’s HVAC System Affects an Appraisal

Appraisers check out your HVAC system and make sure it’s modern and working. If your system is outdated, it can drag down your home’s appraisal value; that’s mainly because updating an HVAC system is expensive, and it can affect your ability to sell the house.

Related: Should you ever offer more than asking price on a home?

How Curb Appeal Affects an Appraisal

Most appraisers gauge your home’s worth by also judging its curb appeal. That’s because the way a home looks from the street impacts buyers’ interest in a home, which can affect its sales price.

Are You Buying a Home in Knoxville?

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