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Refinancing: Prepare for the appraisal
Refinancing: Prepare for the appraisal

Planning a refinance? Tessier says it's important to "have a realistic expectation of the value of your home."

"Know your market and consult with a good real estate agent before you apply for a new mortgage," Tessier says.

Dal Porto recommends making sure the home is in good working order prior to the appraisal. Repair leaky faucets and make sure all areas of the home are easily accessible to the appraiser.

"Give the appraiser a written list, including your purchase date and price, the special features of the home, any home improvements or repairs you have made and the age of items such as the roof, flooring, siding and heating and cooling systems," Dal Porto says.

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