Some useful tips to expedite your appraisal from Craig Gehm Appraisals
|
|
|
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 Freddie Mac, Office of Thrift Supervision, and the like.
Just give us a call at 7245846301 if you have any questions about the appraisal process.
|
|
|
To facilitate the appraisal process, it's helpful to have these documents ready for the appraiser:
-
A survey or plot map of the property and building (if readily available).
-
Records on the latest purchase of the property in the last three years.
-
Written property agreements, such as a maintenance easement for a shared driveway.
-
A list of any personal property that will be left behind and 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.
-
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).
-
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 "proposed" improvements if the property is to be 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 present to answer questions about your property and identify any home improvements.
Here are a few other suggestions:
-
Accessibility: Appraisers are very meticulous in their inspections. We recommend that all areas of the home are accessible, especially the attic and crawl space.
-
Housekeeping: Appraisers see many of homes a year and will look past most clutter, but they're human
beings too! A good impact can translate into a higher value for your home.
-
Maintenance: We often suggest fixing small 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:
having smoke detectors on every floor of the home and especially near bedrooms,
ensuring there are electrical receptacles in every room and that each receptacle works,
eliminating pull-chain lights in areas other than the basement or attic.
|