Lucinda Wadlow's appraisal checklist


	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.

To facilitate 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).
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.
List of personal property to be sold with the home.
Any documents, 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 wells.
Brag sheet that lists major home improvements and enhancements, the amount of their purchase and date of their installation (for example, the addition of central air conditioning 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 "proposed" improvements if the property is to be appraised "as complete".

Once your appraiser has arrived, you do not need to escort them 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:

Accessibility: Appraisers are very meticulous in their inspections. We recommend that all areas of the home are accessible, especially the attic and crawl space.
Housekeeping: Appraisers see hundreds of homes a year and will look past most clutter, but they're human beings too! A good impression can mean a better home value.
Maintenance: We generally recommend repairing small things like leaky faucets, missing door handles and trim.
FHA and VA Inspection Items: In the case of your borrower applying for either an FHA or VA loan, definitely ask your appraiser if there are additional things that should be done before they arrive. Some items they may recommend might be: having 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.