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When you’re buying or selling a home, one number can make or break the deal — the appraisal. On this week’s Real Estate Right Now, I’m joined by Everett “Vic” Knight, one of North Carolina’s most respected appraisers and former Chair of the NC Real Estate Commission. With decades of experience in real estate and property valuation, Vic brings the inside scoop on how appraisals really work and what every buyer and seller needs to know right now.
Here’s the first thing most people don’t realize: the appraiser doesn’t work for you — they work for the lender. Their job is to make sure the home is worth what the bank is lending, not necessarily what you think it’s worth. And with today’s tight schedules, appraisers often have only a short window to visit your property, review comps, and submit the report. That means preparation matters more than ever — clean, accessible, well-documented homes make a stronger impression and often smoother reports.
We’ll also talk about what’s changed in how appraisers measure and value homes. Ever wondered why your finished basement or bonus room doesn’t seem to “count” like the rest of the house? Vic will explain the current standards that determine what’s considered true “living space” — and why square footage isn’t as simple as grabbing a tape measure and doing the math yourself. Understanding those rules can save you a lot of confusion and frustration.
Finally, we’ll look at the new appraisal forms being rolled out nationwide. While they’re designed to be more detailed and consistent, they’re also creating longer turnaround times and more complexity. Vic will help us unpack what that means for you as a consumer — and what you can do to make the process as smooth as possible. If you’re planning to buy or sell a home soon, this episode could be the difference between stress and success.
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While most real estate professionals belong to a nationally affiliated company where they are obligated to use the people in their company’s network.
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