Kunz Appraisals's appraisal to-do list
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To appraise a property, an appraiser needs to be licensed by the state when the transaction involves any federal financial regulatory agency such as OTS, FDIC, etc...
Contact us if you have any questions about the appraisal process.
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To make your appraisal process go as smoothly as possible we generally recommend to have these documents, if available, 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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Any records on the purchase of the property for the last three years.
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Information on any written private agreements, such as a shared driveway with a neighbor.
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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.
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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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Any inspection reports, or other recent reports for termites, EIFS (synthetic stucco) wall systems, septic systems and wells.
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Brag sheet that lists 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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Any "Homeowners Associations" agreements or, if applicable, condo agreements or fees.
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A list of "proposed" improvements when the property is being appraised "as complete".
Once your appraiser arrives, you do not need to accompany 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 helpful suggestions:
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Accessibility: Appraisers are very meticulous 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 a lot of homes a year and aren't surprised at seeing a bit of clutter, but they're human
beings too! A good impression can mean a better value for your home.
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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: In the case of your borrower applying for either an FHA or VA loan, we strongly recommend to ask your appraiser if there are additional things that should be done before they arrive. Some items they may recommend might be:
having smoke detectors on all levels and especially near bedrooms,
scraping and touching up where there's paint peeling,
repairing any faucets that leak or drip, fixing broken windows or other glass like doors.
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