How to Prepare for an Appraisal

 

To simplify the appraisal process, it's beneficial to have these documents ready for the appraiser:.

  • Information on any written private easements, such as a shared driveway with a neighbor.
  • A list of any personal property that will be left behind and sold with the home, such as an oven, or a washer and dryer.
  • Any paperwork, such as a title policy with information on encroachments or easements encroachments or easements.
  • Home inspection reports, or other recent reports for termites, EIFS (synthetic stucco) wall systems, your septic system and wells.
  • A list of any major home improvements and enhancements, the date of their installation and their cost (for example, the addition of central air conditioning or roof repairs) and permit confirmation (if available).
  • Any "Homeowners Associations" agreements or, if applicable, condo covenants or fees.
  • A list of "suggested" improvements if the property is to be appraised "as complete".

Once your appraiser has arrived, you do not need to accompany them along on the entire site inspection, but can be helpful be available to answer questions about your property and be willing to point out any home improvements.

Here are some other suggestions:

  • Accessibility: Appraisers are very thorough in their inspections. Make sure that all areas of the home are accessible, especially the attic and crawl space.
  • Housekeeping: Appraisers see hundreds of homes a year and will look past most clutter, but they're human beings too! A good impact can translate into a higher value for your home.
  • Maintenance: We generally recommend repairing minor things like leaky faucets, missing door handles and trim.
  • FHA and VA Inspection Items: In the case of your borrower trying to apply for either an FHA or VA loan, be sure to ask your appraiser if there are extra things that should be done before they arrive. Some things they may recommend might be: having smoke detectors on every floor of the home and especially near bedrooms, ensuring there are electrical receptacles in every room and that each outlet works, eliminating pull-chain lights in areas other than the basement or attic.

 Did you know the borrower is entitled to receive a copy of the finished appraisal report from the lender? Just give us a call at 480-507-7545 if you have any questions about the appraisal process.