What is a real estate appraiser looking for during a refi appraisal?
When I do a refinance appraisal it is just like any other appraisal. When I go to the house I measure it to get the size, I sketch the house, I determine the overall quality of the house, I list all the amenities, I check for any noticeable problems, evidence of problems with roof, I check the crawlspace if there is one to see the foundation walls, I check the water pressure. (I am not a qualified home inspector but it is my job to notice any obvious deficiencies). I list the condition of the improvements to find the effective age. I always check with the homeowner to see what upgrades are recent. There are several other items I check when i am there. When I leave I want to have the most complete information about the house possible. When I am out there I go through the neighborhood to help see the neighborhood composition and see how the property fits in the neighborhood. When I do the actual report the most important thing is finding recent sales similar in size, quality and amenitie
