Home appraisal question

[Cheshire]

We're looking to refinance - the bank appraiser wants to come over, what is he really looking at when he does a walk through?

Anyone an appraiser or know one?  I'm just curious if they're just looking to confirm number of bedrooms/bathrooms and that the place is in line with the neighborhood (that it's up to date enough to fit in, no major renovation work needed, etc.). Or, is he looking to inspect more closely with a white glove kind of treatment?

Any ideas/suggestions???

[dbsam]

I am not an appraiser, but we had one done a few weeks ago.

10 years ago when we had the house appraised when getting a HELOC they simply drove by.  We are renewing our HELOC and this time he came in, sketched the interior layout, looked in every closet, measured the outside of the house, and generally looked at the condition of the house inside and out.  He then looked at comparable sales in our neighborhood (and since there haven't been too many he also looked at similar neighborhoods in our town.)

HTH

[IngaAnne]

An appraiser came through when we refinanced. It was a lot like what dbsam described. He measured the outside of the house, walked through and drew up a floorplan, took photos of unique features, and took general notes about things like wood floors and such. He then looked at comps in the area to come up with a number. 

[heatherdeg]

I was an appraiser (although I've not renewed my licensing).  My dad still is one and trains appraisers all over the country.  :)  You've pretty much nailed it.

They are looking at square footage, number of bedrooms, bathrooms, whether there's a basement, what kind of basement, what other rooms there are, how many bathrooms, whether you have a garage, whether the major mechanical systems function (usually, they just check the water and if it's cold--that the heat is running or if it's hot and you have central air--if the air is operable).  They will also look to see how outdated your home is.  How any of this affects value really depends on how it compares to other homes in your neighborhood.  They'll look at your landscaping, fencing, what kind of lot you're on and how the location of your lot may make it more or less attractive to own (like if it is on a busy road vs. a cul de sac, etc.)

That's what they'll look at in your house.  They will often only look at the cleanliness of your home in terms of what they'll think about it being maintained well; but unless they find an actual problem--that won't matter a whole lot.