How Home Appraisals Work in McLean, VA

Are you wondering how your home’s appraisal could impact your McLean sale or purchase? You are not alone. In a high-demand market with everything from classic colonials to luxury estates, getting the value right matters for financing and negotiation. In this guide, you will learn how appraisals work in McLean, what influences value locally, timelines and costs, and what to do if the number comes in lower than expected. Let’s dive in.

What a home appraisal is

A home appraisal is an independent, professional estimate of market value on a specific date. In a purchase with financing, the lender uses the appraisal to confirm the home is adequate collateral for the loan. Appraisals protect lenders and help you verify that price and value align.

Licensed or certified appraisers perform the work and must follow Uniform Standards of Professional Appraisal Practice. In Virginia, credentialing runs through the state’s regulatory system for real estate appraisers. Appraisals for most conventional loans use a standard form with photos, comparable sales, adjustments, and a final reconciled value.

An appraisal is different from a Comparative Market Analysis prepared by an agent and from a county tax assessment. It is also independent. No one can legally influence the outcome or pay based on a target value.

How appraisers value McLean homes

For most single-family homes, appraisers rely on the Sales Comparison Approach. They select recent, similar closed sales, then adjust for differences like square footage, lot size, condition, renovations, garage spaces, basement finish, outdoor features, and view. On some properties, appraisers may also consider the cost or income approach, but comparable sales carry the most weight.

McLean’s market has unique features that shape value and comparable selection:

• Luxury inventory. Many homes are custom or estate-scale, which can limit true apples-to-apples comparables and call for appraisers with luxury experience.
• Lot size and privacy. Larger parcels and wooded settings often command premiums. Expect adjustments for lot size, topography, and setting.
• School boundaries. Fairfax County Public Schools and specific attendance zones can influence demand. Appraisers consider school boundaries when choosing comps.
• Commute and access. Proximity to major routes like the Capital Beltway, Route 123, and the George Washington Parkway, plus access to Tysons, Rosslyn, and downtown DC, affects value.
• Transit and infrastructure. Access to Metro and development near Tysons can shape neighborhood trends and comp choices.
• Renovations and permits. Updated kitchens, baths, and high-end finishes typically support higher values when improvements are permitted and documented.
• Floodplain and site factors. Homes near the Potomac or along stream corridors may have flood or site considerations that affect valuation and insurability.
• Age and character. Older but well-maintained homes or unique properties require careful comparable selection and thoughtful adjustments.
• Condo and townhome variables. Building condition, association financials, and unit-level comps matter for attached housing.

What appraisers look for on site

During the inspection, the appraiser verifies the property’s size, layout, features, and condition. They note visible updates, materials quality, and any needed repairs that could affect safety or habitability. Documentation for additions or renovations, such as permits and receipts, helps support adjustments for improvements.

Appraisal types, timing, and costs

Not every appraisal looks the same. Common formats include:

• Full interior and exterior appraisal. The most comprehensive and most common for purchases.
• Exterior-only appraisal. A drive-by report that uses exterior review and data sources.
• Desktop or hybrid appraisal. The appraiser relies on data and remote information, sometimes with third-party interior photos.
• Review or second appraisal. Ordered when a lender wants additional validation.

Turnaround from order to completed report typically ranges from 3 to 14 business days. The inspection itself may take 30 minutes for a smaller home or several hours for a large or complex property.

Fees vary with property size and complexity. Standard single-family homes often fall in the mid-hundreds. Larger or luxury homes can exceed $1,000 because of longer inspections and more research.

Loan program differences that matter

• Conventional loans. Usually use the standard report format. Some low-risk scenarios may allow desktop valuations.
• FHA loans. The appraiser checks against minimum property requirements and may call out repairs that must be completed before closing.
• VA loans. The appraiser issues a value and evaluates minimum property requirements. Some repairs may be required to meet program standards.
• Jumbo or portfolio loans. Lenders often want appraisers with high-value experience and may require additional review.

If the appraiser finds safety or structural issues, the lender may require repairs or decline funding until the concerns are addressed.

What sellers can do to prepare

Preparation helps the appraiser understand your home’s value story and reduces surprises.

• Consider a pre-listing appraisal or broker price opinion, especially for unique or luxury properties.
• Compile documentation: permits for additions, receipts for major upgrades, HOA documents for condos or townhomes, and any recent inspection reports.
• Improve presentation: tidy landscaping, touch up paint, replace burned-out bulbs, and ensure access to all rooms and mechanical areas.
• Share useful comps. Offer a short list of recent, relevant closed sales. Be factual and courteous. The appraiser will still select final comparables.

Seller checklist

• List of improvements with dates and costs
• Copies of building permits and final approvals
• Floor plans or surveys if available
• HOA budget, rules, and recent assessments (attached homes)
• Recent closed sales you believe are comparable
• Easy access to utility rooms, attic, garage, and exterior

If your pricing plan includes pre-sale improvements, ask about using Compass Concierge to coordinate and fund updates that could support value and speed market readiness.

What buyers should do

As a buyer, you want the lender’s appraisal to reflect value while keeping your financing on track.

• Provide the lender and appraiser with seller disclosures, inspection reports, and documentation of recent repairs or upgrades.
• Understand that appraisers rely on closed sales, not list prices or most pending sales. Timing can matter in fast markets.
• Discuss options with your agent and lender in case the value lands below the contract price.

Buyer checklist

• Copy of the ratified contract and all addenda
• Home inspection summary or repair receipts (if available)
• A few relevant closed comps to share through your lender
• A plan for next steps if value is lower than price

If the appraisal comes in low

A low appraisal does not have to kill your deal. You have several paths forward.

• Review the report for factual errors. Verify bedroom count, gross living area, lot size, and feature descriptions. Provide corrections with documentation.
• Gather stronger comps. Identify recent closed sales that better match location, size, and condition. Share through your lender and request a Reconsideration of Value.
• Explore a second appraisal. Lenders sometimes allow another appraisal or a review if new evidence supports a different outcome.
• Renegotiate or re-balance cash. Buyer and seller can adjust price, down payment, or concessions to bridge a gap.

For larger estates or one-of-a-kind homes, the search radius for comps may widen and the appraiser may weigh qualitative factors more heavily. Experience with high-end Northern Virginia properties helps in these cases.

Condo and townhome notes

For attached homes, the appraiser looks beyond the unit. Building condition, reserves, recent assessments, and the pattern of closed sales all factor into value.

• Provide HOA documents, budget, and any special assessment details.
• Share evidence of capital improvements or building updates.
• Highlight unit-level upgrades and parking or storage that distinguish your home from others.

Common mistakes to avoid

• Trying to influence the appraiser’s value outcome. Appraisal independence rules prohibit coercion or value-based compensation.
• Treating online estimates as the standard. Automated values can differ from a licensed appraiser’s analysis of recent closed sales and local nuances.
• Pricing solely off the county assessment. Tax assessments follow different cycles and methodologies than market appraisals.

Local data appraisers use

Appraisers rely on public records in Fairfax County, MLS closed sales, building permits, title data, flood maps, and their onsite observations. You can help by providing accurate, organized documentation and clear access throughout the property.

The bottom line

In McLean, the appraisal is a key checkpoint that confirms value for your lender and helps keep your transaction on track. When you understand how appraisers choose comps, how local factors like lot size, commute access, and renovations influence value, and what to do if the number comes in low, you can navigate the process with confidence.

If you would like help preparing for an appraisal, choosing improvements that support value, or strategizing around a low result, reach out to Francisco Hoyos. You will get local expertise, a calm plan, and hands-on coordination from offer to closing.

FAQs

Who orders and pays for a McLean home appraisal?

• The lender typically orders the appraisal during underwriting for a financed purchase; buyers or sellers may pay for pre-listing or second appraisals by agreement.

How long does an appraisal take from order to report?

• The onsite visit is often under a few hours, and the full report commonly takes 3 to 14 business days depending on property complexity and appraiser availability.

What is the difference between an appraisal and a home inspection?

• An appraisal estimates market value for a lender, while a home inspection focuses on property condition and needed repairs; they have different purposes and reports.

Do FHA and VA loans have different appraisal rules in McLean?

• Yes. Both programs include minimum property requirements and may require certain repairs before closing in addition to establishing value for the loan.

Are appraisal reports public in Fairfax County?

• No. Appraisals are not public, although sale prices and deed records are available through county and MLS data.

Can I provide comparable sales to the appraiser in McLean?

• Yes. You can share factual, closed comparable sales and documentation through the lender, but the appraiser must remain independent and will decide which comps to use.