Preparing for an appraisal from Marco Tiberio


	To appraise a property, an appraiser is legally required to be licensed by the state when the transaction involves any federal financial regulatory agency such as OTS, FDIC, etc... Just give us a call at 5857506417 if you have any questions about the appraisal process.

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

A survey or plot map of the property and building (if available).
Any records on the purchase of the property for the last three years.
Information on any written private easements, such as a shared driveway with a neighbor.
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.
Most recent real estate tax bill and or legal description of the property.
Home inspection reports, or other recent reports for termites, EIFS (synthetic stucco) wall systems, your septic system and your well.
A list of any major home improvements and upgrades, the amount of their purchase and date of their installation (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 "suggested" 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 you should be available to answer questions about your property and identify any home improvements.

Here are some other suggestions:

Accessibility: Appraisers are very meticulous in their inspections. Make sure that all areas of the home are accessible, especially the attic and crawl space.
Housekeeping: Appraisers see a lot of homes a year and are no strangers to clutter, but they're human beings too! A good impact can translate into a better home value.
Maintenance: We generally suggest 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, be sure to ask your appraiser if there are additional things that should be done before they come. Some things they may recommend might be: putting smoke detectors on every floor of the home and especially near bedrooms, where paint is peeling it should be sanded and repainted, repairing any faucets that leak or drip, replacing broken glass.