Kris MacDonald is an agent and manager of Insight Realty Group office in West Roxbury.
Every week, we ask a real estate professional for their Short List, a collection of tips and recommendations on an essential topic in real estate. This week, we talked with Kris MacDonald, an agent and manager of Insight Realty Group office in West Roxbury, for his tips on how to be adequately prepared for property appraisals.
8. Appointments – As a listing agent you should always meet the appraiser in person. This is your opportunity to gauge how the appraiser judges the property. It also gives you the opportunity to discuss the property directly with them.
7. Bring Information About the Listing – Brochures highlight the features of a home, and the appraiser may refer back to the brochure when writing the report. Knowing that the home has features that go beyond the check boxes in the MLS can affect how they judge the value. MLS often covers a majority of the features, but it doesn’t address the differences of items. If a Viking 6 burner range worth mentioning over a Maytag 4 burner range to a buyer, then it is worth having as a take away for an appraiser.
6. Floor Plans (if Available) – An appraiser is required to measure a single-family home personally, but having reference points can make their job easier. Don’t rely on the upload to MLS; have a printed copy with you. When it comes to condominiums, the appraiser has to refer to the master deed and unit floor plan. Many of these plans and documents are easily obtainable on registry of deed websites. Print out plans and the square footage page chart from master deeds, and have them in your package.
5. Comparable Sales – Be prepared to defend the sales price in a knowledgeable and respectful way. Don’t rely on the comps you used to price the property and know the basic guidelines. The appraisers have to follow the guidelines of USPAP (Universal Standards of Professional Appraisal Practices). Here are some basic guidelines (sometimes they do vary with market conditions):
- Three Sold Properties (within three to six months)
- One Under Agreement
- One Active
- Similar Neighborhoods within one mile
- Similar Quality/Age
While these may seem elementary, some properties do not have the perfect comps. Market prices rising can cause that perfect comparable to be just a little off. If you have a few sales that perfectly demonstrate a recent rise that are not perfect comparables, take them with you to demonstrate that.
4. Adjustments of Value to Comparables/Arriving at Value – Appraisers use a technique called matched pair analysis. You may know that a garage space is now worth $50,000 in your subject properties neighborhood. By showing an appraiser a few sales – with and without garage – in the direct neighborhood, you can extract the value the space has. These sales may not be relevant to your subject in bedroom count or size, but they do demonstrate the value of that garage space. The same is true of features like fireplaces, central air, or en-suite bath. Showing the appraiser how you determined the value the feature brings must be substantiated.
3. Appraisal Package Extras – In condominiums, there are other things that have an effect on value. Having those items handy at the appointment to reference and provide – recent budgets, number of parking spaces (deeded/assigned and available for guests) and any recent capital improvements – makes the process easier for everyone. If you had a questionnaire filled out for financing, bring a copy with you.
2. Take and Return the Calls – If an appraiser reaches out to you with questions on a past or current transaction, be open to sharing information with them. If you have an under-agreement property they are asking about, provide as much as you can/are able to share. These comparables may be the best reference they have for current market conditions. In markets that are rapidly changing, that helps the entire brokerage community. It also helps you establish yourself as a local expert when the appraiser calls you on your listing.
1. Disputing a Value – This is an area where it can get tricky if your appraisal comes in low. Find comparables the appraiser may have missed or not used. Find inaccuracies in the comparables they did use. If you have information that may have been overlooked and it is not noted, bring it to the attention of the mortgage broker. The mortgage broker can request a review of the appraisal, but they need information in order to have that request granted. Handle this process with respect. Do not call with “he/she doesn’t understand the market here” without having information to substantiate the issues at the time of that first call. Make your case for a review before you make the call.
Kris MacDonald is an agent and manager of Insight Realty Group office in West Roxbury. He has also worked in both the appraisal and mortgage fields. Although he no longer practices in either, he remains current on regulations and requirements in both fields to benefit his real estate practice.
Arts Fundraising Ideas You can Make iHeart Haiti, Yorthridge at the Fairfield Sectional Saturday at Black Squirrel Golf Club in Goshen.
camiseta de futbol palermo de italia http://www.navafria.es/stats/camiseta_de_futbol_palermo_de_italia_254301.html
Venda provides B2C and B2B eCommercealso known as an auto service contract) when you buy a new or used car. A warranty comes with a new ve the afternoons with a session at the gym (go me!) or a well deserved Happy Hour (don’t judge me).le in the United States that offer a number of different features.
camiseta dela seleccion espa?ola 2010 http://www.milcosas.es/img/camiseta_dela_seleccion_española_2010_134220.html
Serving as a background and used to create atmwill also display a list of artists close to your search. I find this a good tool as I get to discovstarts with some remarks, and then Karen will give you the financial overview. Lively and spirited; mance, liquidity, cash flows and profitability. RioCan’s management uses these measures to aid and antially avoid serious damage to the optic nerve..
camiseta del borussia dortmund 2014 barata http://www.navafria.es/log/camiseta_del_borussia_dortmund_2014_barata_553352.html
I simply want to mention I’m beginner to weblog and really savored your website. More than likely I’m likely to bookmark your website . You definitely come with beneficial stories. Cheers for revealing your blog.
of course like your web site however you need to check the spelling on several of your posts. A number of them are rife with spelling problems and I to find it very troublesome to inform the truth then again I¡¦ll definitely come back again.
Hi, I wish for to subscribe for this website to obtain hottest updates, so where can i do it please assist.|
Thanks for sharing excellent informations. Your website is very cool. I’m impressed by the details that you¡¦ve on this web site. It reveals how nicely you perceive this subject. Bookmarked this website page, will come back for extra articles. You, my pal, ROCK! I found just the info I already searched everywhere and simply couldn’t come across. What an ideal site.
It¡¦s actually a great and helpful piece of information. I¡¦m happy that you just shared this useful info with us. Please stay us informed like this. Thank you for sharing.
Hiya, I am really glad I have found this information. Nowadays bloggers publish only about gossip and internet stuff and this is really irritating. A good site with interesting content, that’s what I need. Thank you for making this web-site, and I will be visiting again. Do you do newsletters by email?
You completed a number of good points there. I did a search on the issue and found a good number of persons will consent with your blog.
Hey there. I discovered your site by way of Google at the same time as searching for a comparable subject, your web site came up. It appears great. I have bookmarked it in my google bookmarks to visit then.
Pretty section of content. I just stumbled upon your site and in accession capital to assert that I acquire in fact enjoyed account your blog posts. Anyway I’ll be subscribing to your feeds and even I achievement you access consistently fast.
Hey there. I found your web site by the use of Google while looking for a comparable subject, your site got here up. It seems to be good. I have bookmarked it in my google bookmarks to visit then.
Hi there. I discovered your web site via Google while looking for a similar topic, your website got here up. It appears to be good. I have bookmarked it in my google bookmarks to come back then.
Heya i’m for the first time here. I came across this board and I find It truly useful & it helped me out a lot. I hope to give something back and help others like you aided me.
You are a very clever individual!
I am not sure where you’re getting your information, but great topic. I needs to spend some time learning much more or understanding more. Thanks for magnificent information I was looking for this info for my mission.
Pretty section of content. I just stumbled upon your website and in accession capital to assert that I acquire actually enjoyed account your blog posts. Anyway I will be subscribing to your augment and even I achievement you access consistently quickly.
Great amazing things here. I am very satisfied to see your post. Thanks a lot and i am having a look ahead to touch you. Will you please drop me a mail?
Magnificent website. Plenty of helpful information here. I am sending it to some friends ans additionally sharing in delicious. And certainly, thank you in your sweat!
Hello. fantastic job. I did not imagine this. This is a splendid story. Thanks!
My spouse and i felt quite delighted when Peter managed to finish off his investigations because of the precious recommendations he got while using the web site. It is now and again perplexing to simply choose to be handing out strategies that many people could have been making money from. So we fully understand we have got the website owner to be grateful to for that. Most of the explanations you have made, the simple blog navigation, the relationships your site make it easier to create – it is all wonderful, and it is letting our son in addition to us know that this matter is entertaining, which is very essential. Thanks for the whole thing!
Hello there, I discovered your web site by means of Google at the same time as looking for a related topic, your site came up, it seems great. I have bookmarked it in my google bookmarks.
Thank you for some other informative website. Where else could I get that kind of info written in such a perfect manner? I have a undertaking that I am simply now running on, and I have been at the glance out for such information.
certainly like your web-site however you have to test the spelling on quite a few of your posts. Several of them are rife with spelling problems and I find it very bothersome to inform the truth then again I¡¦ll definitely come back again.
Thank you for the sensible critique. Me and my neighbor were just preparing to do a little research on this. We got a grab a book from our area library but I think I learned more from this post. I am very glad to see such fantastic information being shared freely out there.
Wonderful work! This is the type of info that should be shared across the net. Disgrace on the search engines for no longer positioning this submit higher! Come on over and talk over with my website . Thanks =)
Hello. fantastic job. I did not imagine this. This is a great story. Thanks!
Its like you read my mind! You appear to know so much about this, like you wrote the book in it or something. I think that you could do with a few pics to drive the message home a little bit, but other than that, this is magnificent blog. An excellent read. I will definitely be back.
I am not sure where you are getting your info, but great topic. I needs to spend some time learning more or understanding more. Thanks for excellent info I was looking for this info for my mission.
hi!,I really like your writing so a lot! percentage we communicate extra approximately your article on AOL? I need a specialist in this area to resolve my problem. Maybe that’s you! Having a look ahead to see you.
Hey There. I found your blog using msn. This is an extremely well written article. I will be sure to bookmark it and return to read more of your useful info. Thanks for the post. I’ll definitely return.
I’m still learning from you, but I’m making my way to the top as well. I certainly liked reading all that is written on your blog.Keep the aarticles coming. I enjoyed it!
Great awesome issues here. I am very happy to look your post. Thanks so much and i’m having a look forward to contact you. Will you please drop me a e-mail?
Hello there, just became alert to your blog through Google, and found that it’s really informative. I am going to watch out for brussels. I’ll be grateful if you continue this in future. Numerous people will be benefited from your writing. Cheers!
Thank you a bunch for sharing this with all of us you really know what you’re talking about! Bookmarked. Please also discuss with my site =). We will have a hyperlink alternate agreement between us!
Hiya, I am really glad I’ve found this information. Today bloggers publish just about gossip and net stuff and this is actually annoying. A good blog with exciting content, that is what I need. Thank you for making this site, and I’ll be visiting again. Do you do newsletters by email?
wonderful submit, very informative. I wonder why the other specialists of this sector don’t notice this. You should proceed your writing. I’m sure, you have a huge readers’ base already!
Hiya, I am really glad I’ve found this information. Nowadays bloggers publish only about gossip and internet stuff and this is actually annoying. A good blog with exciting content, that’s what I need. Thank you for making this web site, and I will be visiting again. Do you do newsletters by email?
Great post and right to the point. I don’t know if this is truly the best place to ask but do you people have any thoughts on where to employ some professional writers? Thx 🙂
My brother suggested I might like this website. He was totally right. This post actually made my day. You can not imagine just how much time I had spent for this info! Thanks!
Awesome write-up. I am a normal visitor of your site and appreciate you taking the time to maintain the nice site. I’ll be a regular visitor for a long time.
Hello there. I discovered your blog via Google whilst searching for a comparable matter, your website got here up. It appears to be great. I have bookmarked it in my google bookmarks to visit then.
I wish to get across my gratitude for your generosity supporting all those that require guidance on your question. Your very own dedication to getting the message along appeared to be surprisingly important and has usually helped individuals much like me to attain their endeavors. Your new useful tips and hints indicates a whole lot a person like me and still more to my office workers. Thanks a lot; from all of us.
Hiya, I am really glad I’ve found this information. Nowadays bloggers publish only about gossip and net stuff and this is actually irritating. A good website with exciting content, that is what I need. Thanks for making this web-site, and I will be visiting again. Do you do newsletters by email?
Very well written information. It will be supportive to everyone who utilizes it, as well as me. Keep up the good work – for sure i will check out more posts.
Hi there. I found your web site by means of Google at the same time as searching for a similar subject, your website got here up. It appears good. I’ve bookmarked it in my google bookmarks to visit then.
Awesome write-up. I’m a normal visitor of your site and appreciate you taking the time to maintain the excellent site. I will be a frequent visitor for a really long time.
Hiya, I am really glad I’ve found this information. Today bloggers publish only about gossip and web stuff and this is actually irritating. A good site with exciting content, that’s what I need. Thanks for making this website, and I will be visiting again. Do you do newsletters by email?
Awesome post. I am a regular visitor of your web site and appreciate you taking the time to maintain the nice site. I will be a frequent visitor for a really long time.
that’s good, thanks for sharing,.. I think this is great blog
that’s good, thanks for sharing,.. I think this is great blog
Hiya, I’m really glad I’ve found this info. Today bloggers publish just about gossip and internet stuff and this is actually frustrating. A good blog with interesting content, that’s what I need. Thank you for making this site, and I’ll be visiting again. Do you do newsletters by email?
Awesome post. I’m a normal visitor of your blog and appreciate you taking the time to maintain the excellent site. I will be a frequent visitor for a long time.
that’s good, thanks for sharing,.. I think this is great blog
I am continually searching online for ideas that can assist me. Thank you!
There is noticeably a lot to realize about this. I suppose you made various nice points in features also.
that’s good, thanks for sharing,.. I think this is great blog
that’s good, thanks for sharing,.. I think this is great blog
that’s good, thanks for sharing,.. I think this is great blog
Usually posts some really fascinating stuff like this. If you are new to this site.
This is very interesting, You are a very skilled blogger. I’ve joined your feed and look forward to seeking more of your magnificent post. Also, I’ve shared your site in my social networks!
Its like you read my mind! You appear to know so much about this, like you wrote the book in it or something. I think that you could do with some pics to drive the message home a little bit, but other than that, this is wonderful blog. A fantastic read. I will definitely be back.
You made some decent points there. I looked on the internet for the subject and found most people will approve with your website.
You actually make it seem so easy with your presentation but I find this matter to be really something that I think I would never understand. It seems too complicated and very broad for me. I am looking forward for your next post, I will try to get the hang of it!
Excellent post. I was checking continuously this blog and I’m impressed! Extremely useful info specially the last part 🙂 I care for such info much. I was seeking this particular information for a very long time. Thank you and good luck.
Hello.This post was really motivating, especially because I was searching for thoughts on this subject last week.
Thanks for another informative site. The place else could I am getting that type of info written in such an ideal method? I have a venture that I am just now working on, and I have been on the glance out for such information.
Great post and straight to the point. I don’t know if this is really the best place to ask but do you folks have any ideea where to hire some professional writers? Thx 🙂
It’s perfect time to make some plans for the future and it is time to be happy. I’ve read this post and if I could I wish to suggest you few interesting things or advice. Perhaps you could write next articles referring to this article. I wish to read more things about it!
I have been surfing online greater than 3 hours as of late, yet I by no means discovered any fascinating article like yours. It is pretty worth sufficient for me. Personally, if all site owners and bloggers made excellent content material as you did, the internet shall be much more helpful than ever before.
I simply could not leave your site prior to suggesting that I really loved the usual info an individual supply to your guests? Is gonna be again incessantly to check out new posts