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Some nice hints to speed your appraisal along from Michael F. Delaney and Associates, Inc.

Did you know the borrower is entitled to receive a copy of the final appraisal report from the lender? Contact us if you have any questions about the appraisal process.

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

  • A survey or plot map of the property and building (if available).

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

  • Information on any written private easements, such as a shared driveway with a neighbor.

  • List of personal property to be sold with the home.

  • Title policy that lists encroachments or easements.

  • Most recent real estate tax bill and or legal description of the property.

  • Any 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 upgrades, the amount of their purchase and date of their installation (for example, the addition of insulation 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 "suggested" 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 you should be present to answer questions about your property and be willing to point out any home improvements.

Here are a few other suggestions:

  • Accessibility: Appraisers are very detailed in their inspections. You should make sure that all areas of the home are accessible, especially the attic and crawl space.

  • Housekeeping: Appraisers see a lot of homes a year and will look past most clutter, but they're human beings too! A good impression can translate into a better value for your home.

  • Maintenance: We often recommend repairing 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, we strongly recommend to ask your appraiser if there are additional things that should be done before they come. Some things they may recommend might be: installing a banister on all stairways, scraping and touching up where there's paint peeling, eliminating pull-chain lights in areas other than the basement or attic.