Suggestions on Preparing for Your Home Evaluation

Category: Real Estate     Date: Nov 7, 2017

The desire of a home evaluation is to ensure the value of your home is at least proportionate to the total amount that will need to be financed by a future buyer. The anticipation of an imminent real estate evaluation can look a bit baffling, but by learning how to prepare for a home evaluation, you can calm your nerves and ensure your home is ready. These are some home evaluation suggestion that you will require to keep in mind in the days leading up to your evaluation.

1) Don't Neglect Curb Application

It is easy to focus on what is going on inside your home, but curb application is just as significant when it comes to determining your home value. You will want to ensure your home looks as welcoming as possible from the outside. This means taking the time to do some simple landscaping, making sure your yard is well taken care of, and cleaning up your home's external. A power washing of your home's brick or siding, along with a professional window washing, can go a long way toward fixing your home's value.

2) Document Enhancements

If you have put money into home enhancements since you have owned your home, ensure these are well documented and pointed out to your expert. Generally, you will want to contribute your expert with a spreadsheet of what improvements you have made, how much they cost and when they were done. This will be helpful in contributing an exact evaluation estimate for your home.

3) Show a Little Generosity

Real estate experts are trained to be neutral at all times, but it is common courtesy to ensure your expert is as comfortable as possible during the evaluation process. If you are still living in your home, take the time to secure any pets before the expert arrives so they are not the objective of enthusiastic welcomes.

If you are no longer living in the home, acknowledge stopping by to kick the heat or air conditioning up to a comfortable temperature before their appearance. Making your expert more comfortable will not improve your expert report, but it will allow them to see your home at its best and ensure they can be as thorough as possible.

4) Talk Up Neighborhood Luxuries


Always keep in mind that the condition of your home is not the only determining factor of its value but the location is everything! If you have hired an experienced, local expert, they are already aware of your neighborhood amenities and perks. Therefore, it never hurts to point out that great park around the corner or that layer of local shops within walking distance. These clearly small neighborhood amenities can really make a big distinction in the total examine value of your home.

There are plenty of steps you can take to prepare your home for an upcoming real estate evaluation which do not implicate spending a lot of money on last-minute improvements. By taking the time to boost your curb application, document enhancements, ensure your expert is comfortable and point out your local luxuries; you can ensure your home's value is reflected exactly in the evaluation report.

 

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We certainly value quality over speed when it comes to something as important as a valuation. Our standard answer to how fast we can provide a valuation is ten (10) business days from when we receive the information we need from the client. We can get it done faster if we are told a specific date we need to hit (e.g. upcoming board meeting). The big caveat in there that many clients do not think about is the phrase, “from when we receive the information we need from the client.” Most clients have the information we request readily available. However, other clients have the information spread between various executives and their outside counsel. So if time is of the essence, getting everything together can speed things up tremendously.
This is dependent on the individual company and can vary widely depending on the valuation service provider. There are valuation service providers out there that do not have our benefits of scale and technology. They also likely do not benefit from the excellent partners that we have. By working with outsourced CFO services, cap table management services, and other partners we are able to cut significant time out of the process that most providers have to spend in the gathering and structuring of data. So although the price may vary depending on the individual situation, almost certainly companies will get the best possible price/value combination by working with Greener Equity either through our partners or directly.
The valuation process is dependent on the situation of the individual company. The general summary is that once a valuation service provider is engaged, the provider will need organizational, financial, and capital structure due diligence that most companies have fairly available without too much trouble. The most difficult tasks are typically either a long-term forecast of financial results or for very early stage companies an analysis of the cost to recreate the IP the company has created.
By asking some simple questions you can hone in on the right valuation date for your company and specific set of circumstances.
How soon do you need the valuation?
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If you are funding the business with venture investments, when did you close your most recent funding round?
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