An appraisal is an assessment of your home which establishes the current market value of the home. The appraiser compares your property to several other similar homes that have recently sold in your area, and makes value adjustments for differences between the properties.

Some types of financing require extensive appraisals, while others require only very minimal appraisals where the appraiser may not even need to view the interior of your home. It is important to know that the appraisal is done to establish the value to be used for mortgage guidelines and lending purposes, not to be confused with a home inspection, which is an examination of the inner-workings of the home.

As a homeowner, you can't affect the sales prices of your home's comparable properties, but you can help your appraiser understand how your home stands apart from other homes. This, in turn, can impact your home's adjustments, resulting in a higher appraised value.

• Be present for the appraisal and be prepared. Bring a list of recent comparable sales that you have visited.
• Point out specifics that you want to make sure the appraiser didn't miss about the comps. While some appraisers will appreciate your help some may find it disrespectful. Make sure you are offering the information in a friendly manner.
• Also make sure to mention any new roofing, flooring, HVAC, plumbing, or windows you've installed since purchasing the home.

If you feel that your appraiser was not experienced enough, lacked knowledge of the local market, or just want a second opinion you can always ask for another appraisal.