10 Things to Know About a Home Appraisal


Communication Is Welcome, Coercion Is Not

Some real estate agents believe that it's illegal to communicate in any way with an appraiser, but according to The Appraisal Foundation, that's not the case at all. Appraisers welcome any and all information that helps them determine the most accurate market value of the home. That includes additional comps provided by the seller's agent, invoices or receipts for major upgrades and renovations and proof of continual maintenance and upkeep.

What is strictly forbidden, however, is any type of communication specifically intended to coerce or threaten the appraiser into giving a higher home value than the property deserves. For example, a real estate agent can't insist that the appraiser match the seller's asking price or threaten to ban the appraiser if he or she doesn't play ball. That's unethical and could forfeit the real estate agent's license.