Which repairs are worth doing before the appraisal?

Fannie Mae's Selling Guide tells appraisers to identify items that need immediate repair and maintenance that has been put off. Both go into the report. Anything that threatens safety, soundness or structural integrity gets special handling, so that is where a weekend of work pays back first.

Cosmetic choices sit much lower on the list. A dated kitchen that works is a fact about the house, not a defect. Nobody is marking you down for oak cabinets.

Under Fannie Mae's guidance, a deficiency affecting safety, soundness or structural integrity means the whole dwelling is rated C6, the lowest condition rating. A C6 property is not eligible for sale to Fannie Mae until it is repaired to at least C5. In practice that means proof of completion, often a second visit, and a delay you could have avoided.

Signs of wood boring insects, dampness or unusual settlement also have to be dealt with. The lender needs either evidence that the problem was corrected or a report from a qualified professional saying it poses no structural threat.

FHA loans have their own property standards, set out in HUD Handbook 4000.1. If your loan is FHA, ask your lender which items they expect to see corrected before closing.

Fannie Mae describes the condition rating as a holistic view of the whole property. The guide says moving the overall rating up or down because of one or two minor areas would be inappropriate. Fixing a torn screen will not turn a C4 into a C3.

What small fixes do is shorten the list. The guide names worn carpet, minor plumbing leaks, holes in window screens, missing handrails and cracked window glass as examples of minor conditions that must still be reported. Each one is cheap to fix. Each one left alone becomes a line that someone at the lender reads.

The appraiser values the home against recent sales of similar homes, not against your receipts. Fannie Mae separates areas that are "updated", meaning modest modernization, from areas that are "remodeled", meaning significant finish or structural change. A remodel left half finished fits neither label and tends to raise questions. For energy features, the guide says that the adjustment cannot just mirror equipment and installation cost.

If a project is already underway, finishing it cleanly beats rushing it. If it has not started, it can usually wait until after the appraisal.

• Safety first. Loose or missing handrails, broken steps, exposed wiring, anything that could hurt someone.
• Water next. Active leaks, unexplained stains, a damp corner in the basement.
• Visible wear. Cracked panes, torn screens, dripping taps, doors that will not latch.
• Access. Clear the attic hatch, the crawl space entry, the electrical panel and the water heater.
• Everything else. Paint, light fixtures and planting come last, if at all.