If you’re financing your home purchase, getting a home appraisal is usually a required step before closing. While it’s a standard part of the process, understanding what an appraisal is and why it matters can help you navigate this step with confidence. Here’s what you need to know:
What is a Home Appraisal?
A home appraisal is an unbiased, professional assessment of a home’s market value. It helps lenders ensure that the purchase price aligns with the property’s true worth. Licensed or certified appraisers, who are independent third parties, conduct the process. Their job is to offer an objective opinion on the home’s value, not to represent the buyer or seller. When an appraiser is also a REALTOR®, they are committed to the REALTOR® Code of Ethics, ensuring the highest standard of professionalism.
Do I Have to Get an Appraisal?
If you’re taking out a mortgage, your lender will generally require an appraisal. This helps determine your loan-to-value (LTV) ratio—the percentage of the home’s price you’ll borrow. Lenders typically prefer an LTV of 80% or less, as higher LTVs carry more risk. If you’re paying cash, an appraisal isn’t necessary, but it’s still a good idea to ensure you’re paying a fair price. In some cases, the lender or buyer may waive the appraisal requirement to make an offer more appealing to a seller.
What Does an Appraiser Look For?
Appraisers compare your property to comparable homes (comps) that have recently sold in the area. They look at factors like the home’s condition, location, size, amenities, and any recent renovations. By examining these characteristics, they arrive at a fair market value. Regardless of the approach, appraisers must be impartial and base their decisions on solid evidence.
Do Appraisals Require a Property Visit?
While many appraisals involve an in-person visit, some may be done remotely. These are known as hybrid or desktop appraisals. In these cases, appraisers collect data online and consult third-party sources, such as real estate agents familiar with the area.
Can My Agent Communicate with the Appraiser?
Yes, your agent can provide information to the appraiser. However, it’s important to note that agents cannot influence the appraisal outcome. Intimidating or pressuring an appraiser is illegal and unethical. The appraiser must remain impartial and confidential.
What Happens if the Appraisal is Lower Than the Purchase Price?
If the appraisal comes in lower than the agreed-upon purchase price, it can affect how much your lender is willing to finance. You can ask the seller to lower the price, or negotiate with your lender for a better deal. It’s also a good idea to include an appraisal contingency in your purchase agreement, ensuring the deal can be renegotiated if the appraisal doesn’t match the price. However, appraisal contingencies are optional.
Will I Get a Copy of the Appraisal?
Yes, the Federal Equal Credit Opportunity Act requires lenders to provide you with a free copy of the appraisal after it’s completed. If your lender grants you an appraisal waiver, they are not obligated to send you the report.
Can I Request a Reconsideration of Value?
If you think the appraiser missed something important or used incorrect comparables, you can request a Reconsideration of Value (ROV). Your lender will provide guidance on how to initiate this process, and your agent can help gather the necessary information. If you believe the appraisal was biased or inaccurate, you also have the option to file a complaint with the appropriate regulatory agencies.
Final Thoughts
Understanding the home appraisal process is essential when purchasing a home. Whether you’re securing a mortgage or paying cash, appraisals ensure that you’re making a sound investment. Keep in mind that practices may vary depending on your state, so consult with your real estate professional for guidance specific to your area.
Mold loves heat and humidity. Since Florida is both, homes and condos in Florida are at increased risk for mold growth. The EPA reports that indoor air can be two to five times more toxic than outdoor air, with mold being a major contributor. Mold often grows unnoticed in damp areas like bathrooms, kitchens, basements, and HVAC systems, where it can cause respiratory issues, asthma, and even severe health problems.
Mold thrives in warm, humid environments (77-87°F, 62-93% humidity) and feeds on organic materials. Summer is particularly conducive to mold growth, with common types including Alternaria, Aspergillus, and the toxic black mold, Stachybotrys chartarum. To prevent mold, it’s essential to keep your home dry, control moisture, and take proactive steps to maintain clean, dry environments.
5 Tips to Prevent Mold and Mildew in Your Home
Keep Humidity Levels in Check – Mold thrives in humid environments, so controlling moisture is key. Use vent fans in high-moisture areas like kitchens, bathrooms, and basements, or install them if needed. Consider using dehumidifiers or whole-home humidification systems to maintain ideal humidity levels. HVAC systems can also help with moisture control, especially during the summer months. Choose air conditioners with high moisture removal for better results.
Let in Fresh Air – Ventilating your home by opening windows daily can reduce carbon dioxide levels, improve air quality, and help dry out damp areas. Even just 5-15 minutes a day can significantly improve the indoor environment and reduce mold risks.
Use Green Cleaning Products – Avoid harsh chemical cleaners that can add VOCs to the air. Opt for water-based, non-toxic cleaners that are effective at removing mold and mildew without introducing harmful substances.
Dry Wet Areas Immediately – Mold needs moisture to grow, so dry wet areas like bathroom surfaces, carpets, and towels within 24 hours. Fix leaks quickly and ensure your home is waterproofed by maintaining gutters, sump pumps, and drainage systems.
Incorporate Indoor Plants – Houseplants not only brighten your space but also help improve air quality by absorbing harmful chemicals like formaldehyde and benzene. Consider adding plants that specifically improve indoor air quality.
Additional Tips
Use a HEPA filter vacuum to remove mold spores from carpets and floors.
Consider installing ultraviolet (UV) lights in damp areas or HVAC systems to reduce mold growth.
Regularly inspect and repair plumbing and HVAC systems to prevent moisture issues.
If you have a severe mold problem, call a professional mold remediation service. For small infestations, natural solutions like tea tree oil, vinegar, or hydrogen peroxide can be effective.
By staying proactive and maintaining a dry, well-ventilated home, you can keep mold and mildew at bay, ensuring a healthier indoor environment for you and your family.
For more information: https://happyhiller.com/blog/how-to-clean-prevent-mold-mildew/
As the holiday season winds down and the Christmas decorations are packed away, the start of the new year presents the perfect opportunity to refresh your home and set it up for a successful sale in the coming months. With the holidays behind us, now is the time to focus on creating a space that not only feels fresh and organized but is also ready to attract potential buyers when the spring market rolls around.
Many of us make resolutions to declutter, reorganize, and simplify our lives in the new year. Why not apply that same mindset to your home? By tackling these tasks early, you’ll not only enjoy a more organized and peaceful living space, but you’ll also be positioning your home for success when it’s time to list. Whether it’s addressing clutter, or making small improvements, taking advantage of this quieter time of year will allow you to prepare your home at a comfortable pace — without the stress of last-minute rushes.
Here are some practical tips on what you can do now to get your home ready for sale:
Boost Curb Appeal The exterior of your home is the first thing buyers see, so make a great first impression. Keep your lawn well-mowed, power wash siding and walkways, and add fresh flowers or greenery near the entrance for a welcoming feel.
Make Necessary Repairs Address visible issues like leaky faucets, broken appliances, or faulty wiring before listing. Buyers will appreciate a well-maintained home, and small repairs can prevent them from asking for price reductions or walking away.
Consider Cosmetic Upgrades If you’re on a budget, focus on simple upgrades like a fresh coat of paint, especially in high-traffic areas such as entryways or kitchens. These small changes can make your home feel more modern and move-in ready.
Declutter and Depersonalize Clear out personal items like family photos and excess furniture to help buyers envision themselves in the space. A clean, neutral environment with minimal distractions allows potential buyers to focus on the home itself.
Do a Deep Clean A thorough cleaning can make a big difference. Wash windows, clean carpets, and pay attention to the kitchen and bathrooms—these areas can make or break a sale. A spotless home gives the impression of being well-cared-for.
Stage Your Home Staging can help buyers imagine the full potential of a space, possibly leading to higher offers and a quicker sale. Avoid using seasonal decor, which can date the listing, and opt for timeless, neutral touches to keep the home appealing year-round.
By following these simple steps, you’ll increase your chances of a quick, profitable sale in the competitive spring market.
Head over to Homegrown in Horizon West—the bi-monthly market in Winter Garden that’s become the Sunday activity you’ve been waiting for! Whether you’re looking to relax with live music, discover unique handcrafted goods, or indulge in delicious food and drinks, this vibrant market has something for everyone. With activities ranging from yoga classes to a car show and plenty of local vendors, Homegrown in Horizon West offers a perfect way to spend your Sunday, all while supporting the incredible talent and community spirit of Horizon West. Don’t miss out on this exciting, community-centered event!
Live Music: Unwind and enjoy live tunes while sipping on an ice-cold beer or a freshly brewed craft coffee. The perfect way to spend a relaxing afternoon!
Yoga Class: Start your Sunday on the right foot with a revitalizing yoga session hosted by Warrior One Yoga Studio. Join us at 10 a.m. on the Home State Brewing Co. lawn for only $10, and as a bonus, enjoy a complimentary beer afterward!
Artisan Vendors: Explore a vibrant marketplace featuring local artisans who bring their creativity and passion to the table. From unique handcrafted goods to one-of-a-kind treasures, you’re sure to find something special.
Food Vendors: Tempt your taste buds with delicious eats from local food vendors. Whether you’re craving savory bites or sweet treats, there’s something to satisfy every craving and take home for later.
Cars and Coffee: Calling all car enthusiasts! The Horizon West Cars and Coffee event is happening from 8 a.m. to 11 a.m. on the rooftop level of Cinepolis’ parking garage. This event is FREE to attend, so bring your fellow car lovers and enjoy the impressive lineup. Note: Takes place on the FIRST SUNDAY of every month.
Filigree Coffee: Stop by Home State Brewing and visit Filigree Coffee for your caffeine fix. Whether you’re a coffee aficionado or prefer a non-caffeinated beverage, their carefully curated menu has something for everyone.
Home State Brewing Co.: Looking for more than just coffee? Home State Brewing opens at 10 a.m. on the 1st and 3rd Sunday of each month for Homegrown in Horizon West. Grab a refreshing drink, enjoy the live music on the patio, and take a break from your shopping.
Monthly Spotlight on Community Impact: Each month, Homegrown in Horizon West highlights a different local nonprofit. Join us in celebrating the incredible work these organizations are doing right here in our community and learn how you can make a difference.
Join us at Homegrown in Horizon West for an unforgettable experience every first and third Sunday of the month!
Owning a vacation home can be a dream, but it requires proper maintenance and care to avoid costly issues. Unlike primary residences, vacation homes often remain vacant for extended periods, which can lead to problems if not properly managed. Plumbing failures, storm damage, and pest infestations are just a few of the potential issues.
To ensure a hassle-free experience, it’s important for vacation homeowners, especially first-time buyers, to consider key maintenance tasks. Here are some essential tips for keeping your vacation property in top shape:
Work from a Checklist Use a detailed checklist to manage home maintenance. Having local service professionals who can check on the home during inclement weather is vital. For example, in snowy areas, a service can clear ice dams and plow driveways, while in hurricane-prone regions, shutters and furniture can be secured. Key systems like heating and water should be turned off when the home is unoccupied.
Embrace Smart Home Technology Smart devices can help monitor your property remotely. Apps like Nest and Arlo allow you to track temperatures and security, while tools like MyCentriq simplify home maintenance management. These technologies ensure you can stay on top of potential issues, even when you’re away.
Hire a Property Manager Consider hiring a property manager to oversee routine maintenance and check-ups, especially after storms. Many property management services offer packages that include security checks, appliance monitoring, and even concierge services, giving homeowners peace of mind.
Review Insurance Coverage Insurance for vacation homes is similar to primary residences, but coverage may differ due to the increased risks of vacancy. Vacation homes are more prone to damage, vandalism, and long-term issues that go unnoticed. It’s crucial to understand your policy and consider additional measures like automatic water shutoff alarms.
Plan Before Buying Before purchasing a vacation home, it’s wise to rent first and explore the area to understand the upkeep involved. If you plan to rent out your property, make sure to check for any HOA or local restrictions regarding rentals.
With these preventive measures, vacation homeowners can enjoy their property without the stress of unexpected problems, ensuring their investment remains a source of relaxation, not headaches.
For more information: https://www.nar.realtor/magazine/real-estate-news/home-and-design/help-homeowners-maintain-their-vacation-homes
