An appraiser conducts a thorough evaluation of a house to determine its current market value for purposes such as a mortgage, refinancing, or sale. Here’s what an appraiser typically checks during a home appraisal:
Physical Condition and Structure
Overall Condition: Appraisers assess the general state of the home, noting any signs of neglect, structural issues, or safety hazards such as cracks, leaks, or infestations.Interior: They inspect the number and size of bedrooms and bathrooms, the presence of a basement or attic, and the condition of floors, walls, ceilings, doors, and windows.Exterior: Appraisers check the roof, siding, foundation, and any visible damage or wear. They also look at outdoor amenities like patios, decks, or pools.Systems and Utilities: The condition and functionality of heating, cooling, plumbing, and electrical systems are noted, though appraisers are not inspectors and do not perform in-depth mechanical inspections.Size and Layout
Square footage: Measurements and available records help describe living area and the site. Ask about any unusual spaces or discrepancies.Room Count: The number and type of rooms (bedrooms, bathrooms, formal dining rooms, etc.) are recorded.Improvements and Upgrades
Renovations and Upgrades: Any recent improvements such as kitchen or bathroom remodels, new flooring, or energy-efficient features are evaluated for their impact on value.Appliances: The presence and condition of appliances are noted, though this is less critical than structural elements.Site and Neighborhood
Lot Characteristics: The size, shape, and topography of the lot, as well as landscaping and outdoor amenities, are considered.Location: The neighborhood’s desirability, proximity to schools, transportation, and local amenities, and any environmental or flood risks are assessed.Zoning and use: Available land-use records may inform the assignment. An appraisal does not substitute for legal advice about property use.Comparable Sales (Comps)
Market Analysis: Appraisers review recent sales of similar properties in the area to help determine the home’s value.Summary Table
| Area Checked | Details Included |
|---|
| Physical Condition | Structure, safety, interior/exterior condition, systems, utilities |
| Size and Layout | Square footage, room count, lot size |
| Improvements | Renovations, upgrades, appliances |
| Site/Neighborhood | Lot characteristics, location, zoning, flood risk, amenities |
| Comparable Sales | Recent sales of similar homes in the area |
Additional Notes
Appraisers Do Not Inspect Like Home Inspectors: They check for obvious problems but do not perform detailed inspections of mechanical systems.Report: After the inspection, the appraiser creates a detailed report, including photos, sketches, and a valuation based on their findings.