How to Prepare for an 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 if available:

• SURVEY: A plot plan or survey of the house and land
• PURCHASE INFORMATION: Information on the latest purchase of the property in the last three years
• INSPECTIONS: Home inspection reports, or other recent reports for termites, EIFS (synthetic stucco) wall systems, septic systems and wells
• UPDATES/IMPROVEMENTS: 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)

Once 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 be willing to point out any home improvements. Don't hesitate to tell us about any and all updates, features, differences that you are aware of.  We appreciate the help.

Here are some other suggestions:

• ACCESSABILITY: 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
• PETS:  Dogs are nice pets and good security, but if the appriaser is concerned about being around the pet, he may overlook an important feature in the home. Many homeowwners will put the pet in the garage, a utility room or a large closet, while the appraiser is around.  Appraisers are pet owners also. We just need to stay focused on the appraisal so that we do a good job for you.