Getting ready for an appraisal from 121Valuation

	To appraise a property, an appraiser is required to be licensed by the state when the transaction involves any federal financial regulatory agency such as Fannie Mae, FDIC, etc. Contact us if you have any questions about the appraisal process.

To simplify the appraisal process, it's beneficial to have these documents ready for the appraiser:

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

• Records on the latest purchase of the property in 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 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.

• A bill for your most recent real estate taxes which should also contain a legal description of the property.

• Home 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).

• Locate copies of the current listing agreement, broker's data sheet and, in the event of a pending sale.

• 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 you should be available to answer questions about your property and identify any home improvements.

Here are a few other helpful tips:

• 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 hundreds of homes a year and are no strangers to clutter, but they're human beings too! A good impression can translate into a higher home value.

• Maintenance: We generally recommend fixing 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, be sure to ask your appraiser if there are additional things that should be done before they arrive. Some things they may recommend might be: installing smoke detectors on all levels and especially near bedrooms, ensuring there are electrical receptacles in every room and that each outlet functions, eliminating pull-chain lights in areas other than the basement or attic.