Preparing for HELOC appraisels

7 Replies


I will be getting an appraisal in a month, on my primary residence for a HELOC. I have read a lot of articles on what to upgrade, remodel repair ect. Most of these have been done and I am confident in a good appraisel. It got me thinking if there was anything further I could do. My question is; has anyone had experiences where a minor upgrade or feature unexpectedly raised the value of a house, or one that didnt raise it or even detracted from the value? I would love to here your stories and advice. Thanks!

@Mark Lira have your agent pull comps and include detailed notes for the appraiser. I do this all the time for my clients in the Chicago suburbs as the appraisers often know quite a bit less about the market locally than the agents. Appraisers cover wide areas, while agents often know local areas very, very well. 

@Mark Lira I agree with @John Warren .  When you talk to your agent make sure he pulls recent comparables (no more than 6 months old) for homes similiar to yours.  And ask him to provide you with the interior and exterior pictures from the listing.  That way you can compare the type of finishing & features that are driving pricing in your area, which will often affects an appraisal.

@Mark Lira

I just had one done and the bank only did a "drive-by" appraisal (i.e. they never came inside the property).

All went fine in the end

@Mark Lira

While making it look nice probably won't hurt, I don't know if it really matters. The reason I say that is I had a tree fall through the roof of my condo garage and the association still hasn't matched the cedar siding color and downspouts (since next year they're replacing everything). In other words it looks like crap compared to all my neighbors.

I asked the loan officer if that would hurt the appraisal, and she no, they go more off recents sales/comps. Anyway, my appraisal fortunaty still came in ok.