Frequently Asked Questions

What is an Appraisal?
An Appraisal is an unbiased professional opinion of the value of a property.
How does the Appraiser determine the value of my property?
A property's Appraisal value is influenced by recent sales of similar properties and by current market trends. The home's amenities, the number of bedrooms and bathrooms, floor plan functionality, and square footage are also key factors in assessing the home's value. The Appraiser must do a complete visual inspection of the interior and exterior and note any conditions that adversely affect the property's value, such as needed repairs.
Why does my Lender require an Appraisal?
Lenders want to make sure that homeowners are not over-borrowing for a property because the home serves as collateral for the mortgage. The Appraisal helps the lender protect itself against lending more than it might be able to recover in this worst-case scenario, such as borrower default.
What is an Inspection Appointment?
The Appraiser will visit your home to conduct an onsite inspection of the property; the Inspection Appointment usually takes less than an hour. Aloft will contact you to schedule the date and time of the Inspection Appointment and confirm property characteristics.
How do I prepare for an Appraisal?

In addition to checking the exterior and interior condition of the home, the Appraiser will also look for anything needing repairs. Here are some areas to consider addressing before your Appraisal:

  • Make sure your hot water heater is strapped (earthquake).
  • Make sure all smoke/CO2 alarms are working properly.
  • Secure a handrail on steps or stairwells.
  • Secure a railing to any and all raised decks.
  • Ensure all utilities are functional with no safety issues.
  • Ensure water, electricity, and air conditioning are functional.
  • Take care of any plumbing issues, roof leaks, or stains.
  • Check for cracks in the walls, ceiling, or foundation.
  • Check for water intrusion through the foundation.
  • Ensure your roof is sound and has at least 3 years of economic life remaining.

This is by no means a complete checklist of repairs that might need to be addressed before a home Appraisal. It is, however, a list of the most common issues that may arise either before or during the Appraisal inspection.

What should I tell the Appraiser?

Telling your appraiser about recent updates or changes to your home is extremely important. Be sure to tell us about repairs, updates, remodeling, or room additions. If you can provide a list to us before the Inspection Appointment, that will save a bunch of time. Or simply give the list to your Appraiser at the time of the Inspection Appointment. Your list should include What, When, and How Much:

  • All repairs, updates, remodeling, or additions.
  • The date (estimated) each item was completed.
  • The cost of each item (estimated).

This information can help support the Appraiser's opinion of value.

What should I not tell the Appraiser?
Nothing is really off-limits for a homeowner; feel free to make your case. However, it is illegal for real estate professionals (Agents and Loan Officers) to say anything to an Appraiser that is intended to influence the outcome of the valuation, including asking the Appraiser to make the value match the sale price (or loan value).
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