Some useful hints to speed your appraisal along from N. Compass Appraisals
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By law, an appraiser must be licensed by the state to perform appraisals prepared for federally related transactions.
Contact us if you have any questions about the appraisal process.
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To aid the appraisal process, it's recommended to have these documents ready for the appraiser:
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A survey or plot map of the property and building (if readily available).
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Information on the latest purchase of the property in the last three years.
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Written property agreements, such as a maintenance agreement for a shared driveway.
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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.
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Any paperwork, such as a title policy with information on encroachments or easements encroachments or easements.
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A bill for your most recent real estate taxes which should also contain a legal description of the property.
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Home inspection reports, or other recent reports for termites, EIFS (synthetic stucco) wall systems, your septic system and wells.
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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).
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A copy of the current listing agreement with broker's data sheet and purchase agreement if a sale is "pending".
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Information on "Homeowners Associations" or condominium covenants and fees.
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A list of "suggested" improvements if the property is to be appraised "as complete".
When the 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 identify any home improvements.
Here are some other recommendations:
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Accessibility: Appraisers are very thorough in their inspections. You should make sure that all areas of the home are accessible, especially the attic and crawl space.
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Housekeeping: Appraisers see quite a few 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.
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Maintenance: We often recommend repairing minor things like leaky faucets, missing door handles and trim.
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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 specific things that should be done before they arrive. Some items they may recommend might be:
installing smoke detectors on all levels and especially near bedrooms,
ensuring there are electrical receptacles in every room (note: GFI outlets are no longer required) and that each receptacle works,
eliminating pull-chain lights in areas other than the basement or attic.
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