Appraisals can be complicated for potential home buyers during the buying process and homeowners looking to refinance their place. When it comes to the latter, NAR President Tom Salomone has you covered. Check out the advice he gave homeowners going through the appraisal process in order to refinance their homes, printed on NerdWallet.com.
Here’s Tom’s advice on strengthening the appraisal value, and here’s what he said to do in the event of a low refinance appraisal.
His biggest piece of advice? Find yourself an advocate.
“A Realtor will be able to provide you with a fair market analysis of your home,” Salomone said, adding that most real estate agents provide the service for free. “If you’re seeing that an appraiser used comps from six months ago and the Realtor finds comps sold within 90 days, then you have a right to ask why more recent sales weren’t used.”