Who Needs To Be Present During A Home Appraisal?

Does the buyer need to be present at appraisal?

Yes, the appraiser will actually visit the house during the home appraisal process.

There is no specific rule that says buyers cannot attend, but the process is typically handled by the appraiser alone.

You would have to contact him to see if you can be present when he visits the house.

Who should be present at a home appraisal?

1. Accompany the appraiser when he or she visits your home. That is right, contrary to what you may have heard, sellers are welcome at the appraisal. No one knows the home better than the seller; they know what improvements were made, the condition of the home when they purchased it and what they spent on improvements.

Do I need to be home for appraisal?

Most mortgage lenders require a home appraisal before they approve financing because the home serves as collateral for the mortgage. If for any reason the borrower defaults and the home goes into foreclosure, the lender will need to sell the property to repay the loan.

What hurts a home appraisal?

Comparable homes or comps are one of the most important factors affecting appraisal value. An appraiser will take a close look at recently sold, nearby homes with similar bedrooms, bathrooms, updates and square footage to your home. The value of these homes can provide baselines for appraisal value.