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Turner Consulting & Evaluation's appraisal to-do list

To appraise a property, an appraiser is required to be licensed by the state when the transaction involves any federal financial regulatory agency such as Fannie Mae, FDIC, etc. Just give us a call at 9707594389 if you have any questions about the appraisal process.

To facilitate the appraisal process, it's recommended to have these documents ready for the appraiser:

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

  • Information on the latest purchase of the property in the last three years.

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

  • A list of any personal property that is part of the home and you intend to be 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.

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

  • Home 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 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).

  • Find copies of the current listing agreement, broker's data sheet and, if the sale is "pending", the purchase agreement.

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

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

Once your appraiser arrives, you do not need to escort him or her along on the entire site inspection, but generally you'll want to be present to answer questions about your property and be willing to point out any home improvements.

Here are a few other helpful 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 are no strangers to clutter, but they're human beings too! A good impact can mean a higher home value.

  • 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 applying for either an FHA or VA loan, we strongly recommend to ask your appraiser if there are additional 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 and that each outlet functions, eliminating pull-chain lights in areas other than the basement or attic.