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 I arrive, there are a few things you should know. By law, I must be and am state certified 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, or, if you are named as an intended user, directly from me.

To facilitate the appraisal process, it's beneficial to have the following documents ready for me, when I arrive at your property:

• Written property agreements, such as a maintenance agreement for a shared driveway or the like
• List of personal property to be sold with the home
• Title policy that describes encroachments or easements
• Home inspection reports, or other recent reports for termites, EIFS (synthetic stucco) wall systems, septic systems and wells
• A list of amenities, upgrades and major home improvements, the date of their installation and their cost (for example, the addition of central air conditioning or roof repairs) and permit confirmation of any additions (if available)
• A copy of the current listing agreement and broker's data sheet and Purchase Agreement if a sale is "pending".
• Information on "Homeowners Associations" or condominium covenants and fees.
• A list of "Proposed" improvements if the property is to be appraised "Subject To Completion".

When I arrive to view the property, you do not need to accompany me 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.

Here are some other suggestions:

• Accessibility: Make sure that all areas of the property are accessible, especially to any basement, attic or 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.
• Maintenance: Repair minor things like leaky faucets, missing door handles and trim, as well as any major repairs that are necessary.