What Does a House Appraiser Look For ?

The purpose of a property appraisal is for the appraiser to see firsthand the home’s location, the quality and condition of its construction, the home’s amenities, and special features that may affect the property’s value. The appraiser compares these and other factors to those of similar homes that have recently sold in the neighborhood. It’s the comparison that ultimately determines the home’s value and marketability.

  • External Factors

Almost every appraiser in the country uses Fannie Mae’s Uniform Residential Appraisal Report, a set of standards that determine the scope of an appraiser’s inspection. When using the URAR, the appraiser is obligated to inspect the home’s fixed qualities, such as its structure, age and location. Specifically, with regard to the exterior of a property, an appraiser looks at the site, the quality of construction, the integrity of the roof and foundation, any issues with the guttering or siding, parking facilities and the home’s observable external condition. The neighborhood also has an impact on the home’s value.

  • Internal Factors

Inside the home, the appraiser is chiefly concerned with total square footage and functional layout – how well the space is used. She checks the number of bedrooms and bathrooms, the size of key rooms such as the kitchen compared to the size of the other rooms in the house, the heating, electrical and plumbing systems, health and safety issues such as fire escapes and handrails, the number and quality of appliances, and the condition of the interior surfaces of the home. If the home has had a major remodel, the appraiser checks code compliance and the structural integrity of the walls and load-bearing beams.

  • It's Not About the Decor

The purpose of a property appraisal is for the appraiser to see firsthand the home’s location, the quality and condition of its construction, the home’s amenities, and special features that may affect the property’s value. The appraiser compares these and other factors to those of similar homes that have recently sold in the neighborhood. It’s the comparison that ultimately determines the home’s value and marketability.