Here are some tips for preparing for an Appraiser:
> Accessibility: Appraisers need to view ALL rooms and areas of the property. Please make sure all rooms are unlocked, access is available to the attic & basement or crawlspace and to all outbuildings on the property (garage, shop, shed, etc).
> Housekeeping: Appraisers are trained to look past the clutter to see the underlying home but we're people too. So while its not necessary, it would be best to have your home and property organized or cleaned and presented in the best manner possible -- But don't stress out about this.
> Maintenance: Please perform any required maintenance and repairs prior to the appraiser's inspection. This is particularly important if the repair is related to the Safety, Soundness, or Security of the property as problems related to these topics will likely require repair to qualify for the loan and if not repaired before will need to be fixed then require the added time and expense of a follow-up inspection.
> FHA / VA / USDA / etc: Please ask your Lender or the appraiser if there are any special requirements for the loan you are seeking. Some loans such as FHA/VA/USDA have specific property condition requirements (e.g. smoke detectors, peeling paint on older homes, handrails, etc) that should be repaired prior to the appraisal inspection or else a follow-up inspection with its added time & cost will be required.
> Prepare an Appraiser Package. This can be a printout given to the appraiser at the time of inspection or emailed afterwards (preferable). Please realize that appraisers are subject to very strict regulations regarding communication and what they may say to anyone other than the Client (per legal definition & typically restricted to the lender). It should include:
* List of all major renovations & repairs along with approximate date (month & year if possible) or timeframe. This is especially important for those items that are much harder to estimate their age such as roofs, furnace, etc and those items that are not readily visible such as pluming, electrical, sprinkler systems, etc.
* List of upgrades or updating
* List of any special or unique features to your home or property
* The package may also include a listing of recent sales with your (or your agent's) comments about why that sale is similar or dissimilar to your property. Do you know that the home down the street that sold a few months ago has the same layout as your home except for the loft option instead of the playroom? Point it out to the appraiser. The appraiser is often restricted by the limited information contained in MLS listings and photos and your knowledge might prove helpful. However, appraisers are subject to very strict legal and professional practices and methodologies so don't be surprised or offended if the comps the appraiser uses in the report are different from those you provided.
* HOA info (dues, HOA name, contact info, agreements, etc)
* Survey, Floor Plan, Inspection Reports, etc: If you have any professional documents related to the property
DO NOT:
* Tell the appraiser what you think the home is worth or what value you need. The value is the main item the appraiser is restricted from discussing and bringing it up can easily violate federal and state appraisal influencing and communication laws and regulations. This can result in your having to pay for that appraiser PLUS a new appraisal by someone else.
> Accessibility: Appraisers need to view ALL rooms and areas of the property. Please make sure all rooms are unlocked, access is available to the attic & basement or crawlspace and to all outbuildings on the property (garage, shop, shed, etc).
> Housekeeping: Appraisers are trained to look past the clutter to see the underlying home but we're people too. So while its not necessary, it would be best to have your home and property organized or cleaned and presented in the best manner possible -- But don't stress out about this.
> Maintenance: Please perform any required maintenance and repairs prior to the appraiser's inspection. This is particularly important if the repair is related to the Safety, Soundness, or Security of the property as problems related to these topics will likely require repair to qualify for the loan and if not repaired before will need to be fixed then require the added time and expense of a follow-up inspection.
> FHA / VA / USDA / etc: Please ask your Lender or the appraiser if there are any special requirements for the loan you are seeking. Some loans such as FHA/VA/USDA have specific property condition requirements (e.g. smoke detectors, peeling paint on older homes, handrails, etc) that should be repaired prior to the appraisal inspection or else a follow-up inspection with its added time & cost will be required.
> Prepare an Appraiser Package. This can be a printout given to the appraiser at the time of inspection or emailed afterwards (preferable). Please realize that appraisers are subject to very strict regulations regarding communication and what they may say to anyone other than the Client (per legal definition & typically restricted to the lender). It should include:
* List of all major renovations & repairs along with approximate date (month & year if possible) or timeframe. This is especially important for those items that are much harder to estimate their age such as roofs, furnace, etc and those items that are not readily visible such as pluming, electrical, sprinkler systems, etc.
* List of upgrades or updating
* List of any special or unique features to your home or property
* The package may also include a listing of recent sales with your (or your agent's) comments about why that sale is similar or dissimilar to your property. Do you know that the home down the street that sold a few months ago has the same layout as your home except for the loft option instead of the playroom? Point it out to the appraiser. The appraiser is often restricted by the limited information contained in MLS listings and photos and your knowledge might prove helpful. However, appraisers are subject to very strict legal and professional practices and methodologies so don't be surprised or offended if the comps the appraiser uses in the report are different from those you provided.
* HOA info (dues, HOA name, contact info, agreements, etc)
* Survey, Floor Plan, Inspection Reports, etc: If you have any professional documents related to the property
DO NOT:
* Tell the appraiser what you think the home is worth or what value you need. The value is the main item the appraiser is restricted from discussing and bringing it up can easily violate federal and state appraisal influencing and communication laws and regulations. This can result in your having to pay for that appraiser PLUS a new appraisal by someone else.
