In part one, we discussed what a home valuation is, why it’s important to do your own analysis before the actual valuation, why you need to create a list of all the upgrades and improvements, and why the curb appeal shouldn’t be ignored.
For part two, however, we will begin with how you can create a pleasant atmosphere for the valuer, why a deep clean of your home is necessary, right through to summary tips on how to prepare for a home valuation when selling your home.
So, without further ado, let’s get straight into it!
Create A Pleasant Visit For The Valuer
While you're set to welcome a valuer, it's advisable that you treat it the same way as you would with a private showing to a potential buyer. For the most part, when selling a house, keep in mind that there are dozens, if not, many tips on arranging your house in preparation for a showing.
The same tips you'd run by when getting your house set for a showing, can also be used for a home valuation. Additionally, keep in mind that creating a pleasant visit for the valuer will not promise a good outcome, but in terms of helping you induce an overall impression of the house, it is absolute.
As with everything all cozy, vibrant and positive, there are few good ideas to create a pleasant and unwavering atmosphere for a visiting valuer, that encapsulates decluttering, keeping your pets away, while ensuring a comfortable temperature and iced with an atmospheric deep house music - that's magic.
Inspect For Potential Safety Issues Around Your Home
Safety issues, among others, are some of the most highly notable red flags to come from a home valuation report. One of the vital tasks of a valuer is to identify safety concerns in and around the house, in addition to ascertaining a fair market value for the house.
This clearly sheds enough light on why a home valuation is the Achilles heel of a real estate transaction, and why every aspect of it should be well-established in preparation for an imminent valuation. A simple misunderstanding of the relationship between a home valuation and a house for sale will attract disappointment in leaps and bounds.
A few of the most common cited repair and maintenance red flags cited in a home valuation report, normally come in the narrative of peeling paint, missing handrails, broken door knobs and window panes, missing light bulbs, and so forth.
It's conceivable for a property valuer to miss these potential safety concerns in your house. But it's well worth your time to be proactive towards ensuring these much needed repairs and maintenance are negated before the valuation date.
If you're unsure where to begin and what to do, always consult your trusted real estate agent.
Experienced real estate agents are well versed with the ins and outs of real estate buying and selling, and a home valuation is out of the ordinary. Your agent can do a walk-through of the house on your behalf, and can easily point out the detrimental concerns which a valuer may not be able to identify..
Deep, Deep Clean Your Home
Have you been to a house where you were easily annoyed by the mess, pet odor, or the musty smell of clutter?
If you have, then imagine if that's the state of your house right now. What impression do you think the valuer will have the moment he/she enters the house?
Here's a tip: give your house a deep, deep clean.
All being well, your house is still clean with minor cleaning to be done, because it was recently staged for potential buyers to experience its pulse, so this might not be too much of a job for you, now that you'll have to prepare for the valuation.
And by deep, deep clean we mean - if possible - vacuuming, mopping, brooming every inch and edges of the floor and walls, spray and wipe surfaces of countertops, benches and the like.
Easy Access To All Areas Of Your Home
The type of financing a potential buyer is allowed can determine what areas of the house the valuer needs to focus on.
For instance, if a buyer has been approved with a FHOS home loan, the valuer then might be required to access crawl spaces - if any - in and around your house, and take photographs, etc.
At this point, it's a good idea to make sure crawl spaces in the house are easily accessible, during your time of preparation for the valuation. You don't want a valuer to be clearing the entrance of a crawl space or knee wall storage just to document its interiors in photographs. It will reflect badly on the valuation report, and may cost your objective behind the sale of your home.
Assuming your house currently has a crawl space, or similar tough-to-access areas, it's best you make them relatively accessible. Your main aim is for the property valuation to be as smooth as possible, for the valuer.
Important Documents For The Valuer
At long last, during your preparation for the property valuation, don't forget the important documents about your house, which you are required to provide the valuer.
In any case, a valuer will most likely ask your listing agent if you, the seller, has a copy of an instrument survey from the time you bought the house.
Another crucial element of a valuer's job is to get the measurement of the property, this is why the information contained in an instrument survey is of significant importance.
Other documents bearing the same sentiments to a valuer include information about the neighborhood and accompanying details like the upgrades and improvements highlighted in part one, comparable sale information solely provided by a real estate agent, any other related documents that you think might just as useful to the valuer.
Tips On How To Prepare For A Home Valuation
There are homeowners out there who feel that they have little to no influence on a valuation , but that is not always true. In fact, there several things a homeowner can consider - provide he/she pays attention to what a valuation process is all about - to help him/her prepare in advance for the valuation inspection, which may just contribute effectively towards a positive outcome.
Technically, homeowners can easily get the most out of a valuation process in two ways: first by dressing up the house for the valuation, then gathering the necessary information for the valuer to use during the process.
Let’s explore these insights for clarity…
Tip #1: Ensure maintenance type items are repaired
You need to be 110% sure that every time of a repair and maintenance nature must be rectified before the home valuation date.
Albeit, these types of repair and maintenance jobs rarely translate into a huge deduction in value, therefore may unintentionally impress upon the valuer that the house is in a bad condition than what it's truly worth.
All in all, try not to leave anything to chance. If there’s cause for concern with respect to repair and maintenance before the valuation, attend to it with effect.
Tip #2: Provide access to all areas of the house
During the actual valuation process, it is advisable that the valuer must be able to access every area or space within your house, and this will cover bedrooms, closets, laundry rooms, cupboards, storerooms, crawl spaces, and even basements, knee wall storages and attics, if there are any.
If your house has several of these spaces with a pile of personal stuff stacked up in front of the entrance, make sure they're cleared in time for the home valuation.
Valuers should be able to access such spaces with ease, so they can verify all the features in the house, as well as the alleged or listed upgrades and improvements.
Tip #3: Have a list of recent repairs or renovations
If the past few years have seen some renovations done to the house, it will be wise to notify and show the valuer of these points of interest in and around the house.
Examples of these adjustments may include roof replacements, new veranda flooring, new wooden stairs, bathroom and kitchen upgrades, new fly wire and the list goes on.
Repairs and renovations of this magnitude reduce the subjects "effective age," meaning that if the house was built some 20 years ago, these recent adjustments might be the reason the house appears to be 10 years. Technically, this will help increase its value.
Tip #4: Provide a copy of the survey
If you’re aware of any recent sales in and around your neighborhood that you believe are similar to yours, the valuer must know.
Needless to say, valuers will have access to most sales information. However, private sales do happen and, from a valuer’s perspective, they are difficult to find. So if there’s any information of a recent private sale in your neighborhood, the valuer should know.
The sale has to meet certain criteria such as time of sale and comparability to the subject among other things. In that respect, a sale is not always comparable and the valuer will make the final determination.
The home valuation process is one those vital steps in a property transaction when selling your home. In most cases, a home valuation is ultimately vital to your understanding of any real estate transaction, thus, equally important when preparing for one. Otherwise, you'll just create disappointments in leaps and bounds.
The tips offered as a simple guide to preparing for a home valuation are easy to adhere to, and shouldn't occupy a huge chunk of your time. But if you are of the view that these tips are worthless, at least according to you, then don't be kicking yourself when the outcome of the valuation is less than what you perceived and anticipated.
This article is meant for informational purposes only. Hausples digs into the details of a tricky topic and teaches its readers all about how the real estate industry operates, in an easily digestible and accessible way. Therefore, not all articles are intended to be construed as financial, or investment advice. Hausples encourages you to reach out for professional help regarding your own real estate situation.