Getting ready for an appraisal from Arnold Real Estate Appraisal

Legally, an appraiser must be licensed by the state to perform appraisals prepared for federally related transactions - i.e. transactions related to OTS, FDIC, etc.... Just give us a call at 9725301212 if you have any questions about the appraisal process.

To speed the appraisal process along as quickly as possible we generally recommend to have these documents, if available, ready for the appraiser:

  • A survey or plot map of the property and building (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.

  • 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.

  • Title policy that describes 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 date of their installation and their cost (for example, the addition of insulation 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 covenants or fees.

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

Once your appraiser has arrived, you do not need to escort him or her along on the entire site inspection, but can be helpful be present to answer questions about your property and be willing to point out any home improvements.

Here are some other helpful suggestions:

  • Accessibility: Appraisers are very thorough 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 higher value for your home.

  • Maintenance: We often suggest repairing small things like leaky faucets, missing door handles and trim.

  • FHA and VA Inspection Items: If your borrower is applying for either an FHA or VA loan, definitely ask your appraiser if there are extra things that should be done before they come. Some things they may recommend might be: having handrails on all stairways, removing and repainting where there's paint peeling, repairing any faucets that leak or drip, replacing broken glass.