By SET Real Estate Group
We’ve guided countless clients through home sales and purchases in Brookhaven, and one topic that consistently sparks confusion—or even anxiety—is the home appraisal. Whether you're preparing to sell your home or buying one, the appraisal process plays a critical role in determining value, securing financing, and moving the deal forward. If you’re unclear on how it works or what it means for you, we’re here to explain everything you need to know about home appraisals in today’s market.
Key Takeaways
- Appraisals are required for most financed home purchases.
- They determine fair market value based on recent sales and property condition.
- A low appraisal can delay or derail a deal—but it can also be challenged.
- Preparing your property can impact the outcome.
Why Appraisals Matter in Brookhaven Real Estate
Appraisals are one of the most important—and least understood—parts of the transaction process. In a high-demand area like Brookhaven, appraisals help ensure buyers aren’t overpaying and lenders aren’t over-lending. This is especially crucial in markets where prices shift quickly or competition pushes bids above list price.
What an Appraisal Actually Does
Understanding Its Purpose
Appraisals are performed by licensed professionals to determine a property's fair market value based on objective criteria. These appraisers are typically selected by the lender to ensure neutrality and compliance with federal lending regulations.
What goes into a typical appraisal:
- Recent comparable sales (“comps”) in Brookhaven and nearby areas
- Square footage, layout, and lot size
- Interior and exterior condition
- Upgrades and improvements
- Neighborhood quality and market trends
The appraiser submits a formal report, which is then used by the lender to confirm the home is worth the agreed-upon purchase price.
Common Appraisal Scenarios in Brookhaven
Even experienced buyers and sellers can be surprised by the outcome of an appraisal. In areas like Brookhaven, where renovated homes sit near older properties, value assessments can vary widely.
What Can Happen After an Appraisal
What to Expect in the Process
The outcome of the appraisal influences the next steps in the deal.
Typical appraisal scenarios include:
- Appraisal matches offer price: The sale continues as planned.
- Appraisal comes in higher: This benefits the buyer with potential equity, though it doesn’t change the loan terms or purchase price.
- Appraisal comes in lower: Triggers renegotiation or a possible deal delay.
If a property appraises low, buyers may need to bring more cash to the table or the seller might agree to reduce the price. Sometimes a reconsideration of value can be requested with supporting data.
How Sellers Can Prepare for a Successful Appraisal
A well-prepared home can help maximize its appraised value. While you can’t control the market, you can control presentation.
Seller Prep Tips
Steps to Improve Perceived Value
There are a few easy things sellers in Brookhaven can do before the appraiser arrives.
To-do list before an appraisal:
- Make minor repairs (leaky faucets, peeling paint)
- Clean thoroughly and declutter all spaces
- Provide a list of recent upgrades with receipts
- Ensure the appraiser has access to all areas
- Share a list of relevant nearby sales, if available
We also recommend being proactive. If your home has unique features or if nearby comps were distressed sales, those details are worth pointing out.
How Buyers Should Approach the Appraisal Step
For buyers, the appraisal protects your investment. It ensures you're not committing to a price above market value.
What Buyers Need to Know
Key Points Before and After the Appraisal
Appraisals are a routine part of the lending process, but they can also signal an opportunity. Some loan programs, like FHA or VA, have stricter appraisal guidelines, which may affect the property's eligibility.
Key tips for buyers:
- Know your contract’s appraisal contingency details
- Ask your agent to review comps before making an offer
- Be ready to negotiate if the value comes in low
- Don’t panic—a low appraisal isn’t the end of the deal
We help our Brookhaven buyers navigate this process with strategy and confidence, keeping your interests protected every step of the way.
FAQs About Home Appraisals
What Happens If a Home Doesn’t Appraise for the Sale Price?
The deal may need to be renegotiated. The buyer can bring additional funds, the seller can lower the price, or the parties can meet in the middle.
Can I Challenge a Low Appraisal?
Yes, your agent can submit a reconsideration of value using better or more recent comps, but success varies by case and lender.
Are Appraisals Always Required?
They are typically required when a buyer is using a mortgage. All-cash deals do not require appraisals unless the buyer specifically requests one.
Contact SET Real Estate Group Today
If you’re planning to buy or sell in Brookhaven, we’ll help you navigate every step of the process with clarity and confidence—including the appraisal. We know the local market, we understand how appraisers work, and we’ll help you be prepared before the value is ever assigned.
Reach out to
SET Real Estate Group and let’s discuss your goals. Whether you're listing your home or making an offer, we’ll make sure the appraisal step works in your favor, not against it. Let’s move forward with the right strategy—together.
