Some helpful hints to save you time on your appraisal from 20-22 Claver Place ace Realty, Inc

Did you know the borrower is entitled to receive a copy of the completed appraisal report from the lender? Contact us if you have any questions about the appraisal process.

To speed the appraisal process along as quickly as possible we generally recommend to have these documents, if available, ready for the appraiser:

  • A survey or plot map of the property and building (if readily available).

  • Any records on the purchase of the property for the last three years.

  • Written property agreements, such as a maintenance easement for a shared driveway.

  • 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.

  • Title policy that lists encroachments or easements.

  • A bill for your most recent real estate taxes which should also contain a legal description of the property.

  • Any inspection reports, or other recent reports for termites, EIFS (synthetic stucco) wall systems, your septic system and wells.

  • Brag sheet that lists major home improvements and enhancements, the date of their installation and their cost (for example, the addition of energy efficiency upgrades or roof repairs) and permit confirmation (if available).

  • A copy of the current listing agreement with broker's data sheet and purchase agreement if a sale is "pending".

  • Any "Homeowners Associations" agreements or, if applicable, condo agreements or fees.

  • A list of "proposed" improvements when the property is being appraised "as complete".

When the appraiser has arrived, you do not need to accompany him or her along on the entire site inspection, but generally you'll want to be present to answer inquiries about your property and identify any home improvements.

Here are a few other recommendations:

  • Accessibility: Appraisers are very meticulous in their inspections. You should make sure that all areas of the home are accessible, especially the attic and crawl space.

  • Housekeeping: Appraisers see many of homes a year and aren't surprised at seeing a bit of clutter, but they're human beings too! A good impression can mean a better home value.

  • Maintenance: We often recommend fixing 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, definitely ask your appraiser if there are extra things that should be done before they come. Some things they may recommend might be: having handrails on all stairways, ensuring there are electrical receptacles in every room (note: GFI outlets are no longer required) and that each outlet works, fixing leaky or dripping faucets, replacing broken glass.