Gearing up for an appraisal from Residential Valuation

To appraise a property, an appraiser is required to be licensed by the state when it's a federally related transaction. Just give us a call at 3605712181 if you have any questions about the appraisal process.

To speed up 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 readily available).

  • Any records on the purchase of the property for the last three years.

  • Information on any written private agreements, such as a shared driveway with a neighbor.

  • List of personal property to be sold with the building.

  • Title policy that describes encroachments or easements.

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

  • Any inspection reports, or other recent reports for termites, EIFS (synthetic stucco) wall systems, septic systems and your well.

  • Brag sheet that lists 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).

  • 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 covenants or fees.

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

Once your appraiser arrives, you do not need to escort them along on the entire site inspection, but it's helpful be available to answer inquiries about your property and identify any home improvements.

Here are some other suggestions:

  • Accessibility: Appraisers are very thorough in their inspections. We recommend that all areas of the home are accessible, especially the attic and crawl space.

  • Housekeeping: Appraisers see hundreds of homes a year and aren't surprised at seeing a bit of clutter, but they're human beings too! A good impression can translate into a higher home value.

  • Maintenance: We often recommend 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, we strongly recommend to ask your appraiser if there are specific things that should be done before they come. Some things they may recommend might be: putting smoke detectors on all levels and especially near bedrooms, scraping and repainting where there's paint peeling, eliminating pull-chain lights in areas other than the basement or attic.