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How do I get
ready for my appraisal?
For homeowners, a real estate appraisal is the linchpin to buying or selling
their home. It allows the property transactions to occur among the buyer,
seller, real estate agent and mortgage lender.
Before an Appraiser arrives, there are a few things you should know. By law,
an appraiser must be state licensed to perform appraisals prepared for federally
related transactions. Also by law, you are entitled to receive a copy of the
completed appraisal report from your lender.
To facilitate the appraisal process, it's beneficial to have these documents
ready for the appraiser:
 | A plot plan or survey of the house and land (if readily available)
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| Information on the latest purchase of the property in the last three years
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| Written property agreements, such as a maintenance agreement for a shared
driveway |
| List of personal property to be sold with the home |
| Title policy that describes encroachments or easements |
| Most recent real estate tax bill and or legal description of the property
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| Home inspection reports, or other recent reports for termites, EIFS
(synthetic stucco) wall systems, septic systems and wells |
| Brag sheet that lists major home improvements and upgrades, the date of
their installation and their cost (for example, the addition of central air
conditioning or roof repairs) and permit confirmation (if available) |
| A copy of the current listing agreement and broker's data sheet and
Purchase Agreement if a sale is "pending". |
| Information on "Homeowners Associations" or condominium covenants and
fees. |
| A list of "Proposed" improvements if the property is to be appraised "As
Complete". |
Once your appraiser has arrived, you do not need to accompany him or her
along on the entire site inspection, but you should be available to answer
questions about your property and be willing to point out any home improvements.
Here are some other suggestions:
| Accessibility: Make sure that all areas of the home are accessible,
especially to 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 impression can translate
into a higher home value |
| Maintenance: Repair minor things like leaky faucets, missing door handles
and trim |
| FHA/VA Inspection Items: If your borrower is applying for an FHA/VA loan,
be sure to ask your appraiser if there are specific things that should be done
before they come. Some items they may recommend might be: Install smoke
detectors on all levels (especially near bedrooms); install handrails on all
stairways; remove peeling paint and repaint the effected area; provide
inspection access to the attic and crawl |
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