When Kellie and Michael May decided to refinance their home in the New York suburbs, they wanted to take advantage of historically low interest rates. But before landing a new 30-year fixed-rate mortgage, they had to get through a home appraisal.
But the appraisal came back roughly $70,000 less than the $1,230,000 the Mays were expecting, and too low to support their new loan.
Here are eight ways you can bolster your appraisal: MAKE SURE APPRAISER KNOWS YOUR NEIGHBORHOOD, PROVIDE YOUR OWN COMPARABLES, KNOW WHAT ADDS THE MOST VALUE, DOCUMENT YOUR FIX-UPS, TALK UP YOUR TOWN, DISTINGUISH BETWEEN UPSTAIRS AND DOWNSTAIRS, CLEAN UP, GIVE THE APPRAISER SOME SPACE
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