Preparing for an appraisal
To simplify the appraisal process, it's recommended to have these documents ready for the appraiser:
Here are a few other recommendations:
William Kozik | Phone: 708-476-0151 | Fax: 888-807-1521 | Email: [email protected]
To simplify the appraisal process, it's recommended to have these documents ready for the appraiser:
- A plot plan or survey of the house and land (if available).
- Records on the latest purchase of the property in the last three years.
- Written property agreements, such as a maintenance easement for a shared driveway.
- List of personal property to be sold with the home.
- Any documents, such as a title policy with information on encroachments or easements
- Most recent real estate tax bill and or legal description of the property.
- Any inspection reports, or other recent reports for termites, EIFS (synthetic stucco) wall systems, septic systems and wells.
- A list of any major home improvements and upgrades, the amount of their purchase and date of their installation (for example, the addition of central air conditioning or roof repairs) and permit confirmation (if available).
- Find copies of the current listing agreement.
- Information on "Homeowners Associations" or condominium covenants and fees.
- A list of "proposed" improvements if the property is to be appraised "as complete".
Here are a few other recommendations:
- Accessibility: Appraisers are very meticulous in their inspections. We recommend that all areas of the home are accessible, especially the attic and crawl space.
- Housekeeping: Appraisers see a lot of homes a year and will look past most clutter.
- Maintenance: We often suggest repairing minor things like leaky faucets, missing door handles and trim.
- FHA and VA Inspection Items: If your borrower is applying for either an FHA or VA loan, definitely ask your appraiser if there are specific things that should be done before they arrive. Some items 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 (note: GFI outlets are no longer required) and that each outlet functions, fixing leaky or dripping faucets, fixing broken windows or other glass like doors.
William Kozik | Phone: 708-476-0151 | Fax: 888-807-1521 | Email: [email protected]