Comments on: What exactly do home appraisers look for when doing an appraisal for a mortgage refinance? http://www.excelsiorstreet.com/home-property-appraisal/what-exactly-do-home-appraisers-look-for-when-doing-an-appraisal-for-a-mortgage-refinance Mon, 29 Aug 2011 22:41:59 -0400 http://wordpress.org/?v=2.8.4 hourly 1 By: frankie b http://www.excelsiorstreet.com/home-property-appraisal/what-exactly-do-home-appraisers-look-for-when-doing-an-appraisal-for-a-mortgage-refinance/comment-page-1#comment-1298 frankie b Sat, 06 Feb 2010 14:47:59 +0000 http://www.excelsiorstreet.com/home-property-appraisal/what-exactly-do-home-appraisers-look-for-when-doing-an-appraisal-for-a-mortgage-refinance#comment-1298 Sounds easy, but the bottom line is they look for value. They need to know the home is worth what you want to borrow. Short of a kitchen remodel, or bath remodel, there is not much you can do. they are not looking for fresh paint or cleanliness.<br><b>References : </b><br> Sounds easy, but the bottom line is they look for value. They need to know the home is worth what you want to borrow. Short of a kitchen remodel, or bath remodel, there is not much you can do. they are not looking for fresh paint or cleanliness.
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]]> By: Michael J http://www.excelsiorstreet.com/home-property-appraisal/what-exactly-do-home-appraisers-look-for-when-doing-an-appraisal-for-a-mortgage-refinance/comment-page-1#comment-1297 Michael J Sat, 06 Feb 2010 13:58:59 +0000 http://www.excelsiorstreet.com/home-property-appraisal/what-exactly-do-home-appraisers-look-for-when-doing-an-appraisal-for-a-mortgage-refinance#comment-1297 It will depend. If your credit score is high then the lender may not require a full appraisal. If a full appraisal is needed, the appraiser will measure the outside of your home, tour the inside, take pictures of it and comparable homes that have sold close to your home. They will find a market price for your home based on the most current previous sales of similar/nearby homes.<br><b>References : </b><br>Too many years with my ex-wife who was/is an appraiser. It will depend. If your credit score is high then the lender may not require a full appraisal. If a full appraisal is needed, the appraiser will measure the outside of your home, tour the inside, take pictures of it and comparable homes that have sold close to your home. They will find a market price for your home based on the most current previous sales of similar/nearby homes.
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Too many years with my ex-wife who was/is an appraiser.

]]> By: TheMom http://www.excelsiorstreet.com/home-property-appraisal/what-exactly-do-home-appraisers-look-for-when-doing-an-appraisal-for-a-mortgage-refinance/comment-page-1#comment-1296 TheMom Sat, 06 Feb 2010 13:43:59 +0000 http://www.excelsiorstreet.com/home-property-appraisal/what-exactly-do-home-appraisers-look-for-when-doing-an-appraisal-for-a-mortgage-refinance#comment-1296 They are not likely to actually look at your house. If you made a lot of improvements since it was last appraised you need to let them know. They take home sales within 1/4 mile (sometimes more, because they need at least 6 sales) done within the last 4 months, average them per square foot and then multiply that number by your square footage. The same is done for the lot, it is valued per foot, not your personal landscaping.<br><b>References : </b><br> They are not likely to actually look at your house. If you made a lot of improvements since it was last appraised you need to let them know.

They take home sales within 1/4 mile (sometimes more, because they need at least 6 sales) done within the last 4 months, average them per square foot and then multiply that number by your square footage. The same is done for the lot, it is valued per foot, not your personal landscaping.
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