What Consumers Need to Know About Appraisals

Nicole's guest, Joey Pizzi of JP Appraisal Services wants consumers to know a few things about the appraisal process to help them before the appraiser arrives, and for buyers to understand the current market filled with over-asking-price offers.

It's different than a home inspection. This is what is done during an appraisal: measure, take photos, documentation, assess the condition, look for any needed maintenance

How hard is it to appraise a home? Need to really be familiar with the market. This includes all of these offers coming up to $100,000 over asking prices. Your appraisers need to know how to read the market and look out for anomalies.

Things a seller can do before the appraiser arrives. PAINT: railings, cabinets, holes in the walls. Cleanliness shouldn't affect the appraisal, but it can be distracting. Declutter, clean up - show that the house is cared for.