house appraisals

Re: house appraisals

• MrsT624

  August 2011

  When we had our house appraised, the only thing they did was basically a drive by and looked at the outside since that is all the mortgage company required for refinancing. This made the value of our house A LOT less than what it is really worth. We requested they come back and appraise the inside of the house, too. We got about 20,000 more in value, so it was definitely worth it.

  

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• sweetpea18

  August 2011

  When we refinanced, they came in and took pics of each room. He measured some of them and made some measurements outside. I really wonder how they come up with their numbers. He looked at everything and then said 'your value is $200k.'

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• mz-n-ss member

  

  August 2011

  If they are looking at the inside, there isn't much you can do.  Obviously make sure you have it picked up, but even that doesn't make a huge difference.  They will look at size of rooms, sq ft of the entire house and the condition it is in.   They then take those numbers and comapre them to other sales that have recently happened in your neighborhood to get a fair number.   When the compare to the other houses they add/subtract values based on loacation (if needed), finished sq ft differences, upgrades, etc.  

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