How I See The Market

Appraisals can be tricky these days. Here’s some advice from Maureen Sweeney, a Chicago-area owner of an appraisal firm, on getting an accurate and fair appraisal.

• Both the real estate practitioner and the owner should be present for the appraisal and follow the appraiser around. Make sure he doesn’t miss anything important.
• Ask questions to determine if the appraiser has identified the correct neighborhood boundaries and if she’s comparing the home to similar properties.
• Bring a copy of a recent tax bill and a survey of the property, and give them to the appraiser.
• Provide a list of improvements to the home.
• Offer your professional opinion about what makes this property worth more than other properties in the area.

Source: Chicago Tribune, Mary Umberger (08/02/2009)