Getting ready for an appraisal from David Losleben

	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 OTS, FDIC, etc... Just give us a call at 2108634229 if you have any questions about the appraisal process.

To help the appraisal go as smoothly as possible we generally recommend to have these documents, if available, ready for the appraiser:

• A plot plan or survey of the house and land (if available).

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

• Written property agreements, such as a maintenance agreement for a shared driveway.

• 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 lists 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, your septic system and wells.

• Brag sheet that lists major home improvements and enhancements, the date of their installation and their cost (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".

• Information on "Homeowners Associations" or condominium covenants and fees.

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

When the appraiser arrives, you do not need to escort him or her along on the entire site inspection, but generally you'll want to be present to answer questions about your property and identify any home improvements.

Here are a few other 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 quite a few of homes a year and will look past most clutter, but they're human beings too! A good impact can translate into a better value for your home.

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

• FHA and VA Inspection Items: If your borrower is trying to apply for either an FHA or VA loan, we strongly recommend to ask your appraiser if there are extra things that should be done before they arrive. Some items they may recommend might be: installing a banister on all stairways, ensuring there are electrical receptacles in every room and that each outlet works, eliminating pull-chain lights in areas other than the basement or attic.