Unfortunately, the fact that there are 10 offers on a property doesn't weigh into the appraisers decision about value. Appraisers have to have solid evidence on paper to show the underwriters that the value is there. While you can't change your square footage, lot size or finish level before the appraiser comes, you can take steps to make sure your home looks its absolute best in hopes that the appraiser will compare your home to the nicest ones on the market, not the middle of the road, which will certainly help get the value you need in order to get the deal done.
I found a helpful article on this in Realty Times about this. They list five items that can hurt the value of your home in the eye of an appraiser. These are all great tips and make sure to consider them before the appraiser gets to your home. For the full article, click here.
Here are five areas that can hurt your appraisal.
1. Unkept exterior/interior - Having a messy home can cause an appraiser to shave a little off your appraisal.
2. Trendy Remodels - Renovations should keep in line with the historical period of the home
3. Unfinished remodeling projects - Don't have an appraiser inspect when your remodels are incomplete.
4. Forgetting to list improvements - Compile a detailed list and give it to the appraiser.
5. Not doing your homework - Know the reason a home that is similar to yours sold for less and explain the difference between yours and the one that sold for a lower price.
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