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If you’ve already scheduled your home assessment, you’re on your way to unlocking your home equity with Orchard! This is the final step towards receiving your Instant Equity and understanding the value of your home in today’s market.
What is a home assessment?
The home assessment allows Orchard to take a closer look to give you an accurate backup offer price for your home and determine how ready it is to show to potential buyers. This evaluation, along with reviewing recent sales in your area, current homes on the market, and your home’s unique features will be used to determine a listing strategy that maximizes your price and buyer interest.
You’ll also review your assessment results with your Home Advisor or Listing Agent so that you can become an informed seller and have the opportunity to address any items before you list your home. Knowing what prospective buyers might focus on can help you save valuable time during the closing process.
What happens during the home assessment?
The home assessment itself is a pretty clear-cut process.
A qualified, licensed home inspector, also known as an Orchard Home Quality Specialist, will examine the physical structure, systems, and condition of the home. This includes making sure that the HVAC, plumbing, and electrical systems are in working order. They will also check for any damage in the roofing, insulation, windows, doors, basement, and foundation of the home.
Accompanying them may be one or two additional inspectors who will assist in evaluating your home. In light of the coronavirus pandemic, our team will take extra precautions during your home assessment to ensure your safety. You can learn more about the steps we're taking here.
How long does a home assessment take?
A home assessment should take between two and four hours, depending on the age and size of the house.
During that time, the Home Quality Specialist will be able to examine and provide an evaluation of the entire house. Should any additional assessments be required, we’ll follow up with you to set those up.
How much does it cost?
According to the U.S. Department of Housing and Urban Development, a typical home assessment costs anywhere from $300 to $500. However, when you work with Orchard, home assessments are entirely free as part of our service.
Is there anything I should do to prepare for a home assessment?
Yes, there are a few things to keep in mind. Along with the Home Quality Specialist and team, a local Market Manager will also be on hand to review your home’s unique features and make recommendations for any repairs or upgrades to consider.
Together, they’ll need clear, unobstructed access to the following:
- water heaters
- air handlers
- the attic
- electric panels
- sprinkler systems
What happens after the home assessment?
A few days after the home assessment, Orchard will contact you to go over the results. We’ll also share your recommended list price and Orchard’s cash offer on your home. It’s important to remember that you are in full control of the price we list your home for and the offers that you’re willing to accept.
Once you and your Home Advisor or Listing Agent confirm the offer and terms, you'll then be sent representation documents to officially begin working with Orchard.
If you'll be using the Move First service to buy a home with Orchard, this is the perfect time to take the Home Match quiz if you haven’t already. Home Match scores every home on the market against preferences you set, including whether you need an open floor plan or a shorter commute to work. As you start looking for homes, it's a great tool that enhances your search results so you can quickly see which homes you match with.