What to Expect During a Home Appraisal

Whether you're buying, selling, or refinancing a home, a professional appraisal is often a necessary step. It helps determine the property's fair market value and ensures the buyer, seller, and lender are all on the same page. Here's what to expect during a home appraisal:

🏡 What Is a Home Appraisal?

A home appraisal is an unbiased estimate of a property's value, conducted by a licensed appraiser. For buyers using a mortgage, lenders require an appraisal to make sure the loan amount isn’t more than the home’s actual worth.

🏡 What Happens During the Appraisal?

The appraiser will schedule a visit to the home and assess its condition, size, layout, features, and any recent upgrades. They’ll also look at comparable homes ("comps") recently sold in the neighborhood. The onsite inspection usually takes 30–60 minutes, but the full report may take a few days to complete.

🏡 What Factors Affect the Appraisal Value?

Key factors include location, square footage, number of bedrooms and bathrooms, overall condition, lot size, and recent sales in the area. Renovations and upgrades can boost value, but so can neighborhood trends.

🏡 What If the Appraisal Comes in Low?

If the appraisal is lower than the purchase price, it can delay or derail financing. In that case, the buyer may renegotiate the price, pay the difference out of pocket, or request a second opinion.

Bottom Line:
A home appraisal is a crucial checkpoint in any real estate transaction. Knowing what to expect—and how to prepare—can help ensure the process goes smoothly and supports your sale or purchase goals.