How to Prepare for an Appraisal

For homeowners, a real estate appraisal is the linchpin to buying or selling their home. It allows the property transactions to occur among the buyer, seller, real estate agent and mortgage lender.

Before an Appraiser arrives, there are a few things you should know. To facilitate the appraisal process, it's beneficial to have these documents ready for the appraiser:

• Itemized list of major home improvements and upgrades, the date of their installation and their cost.                                                                       (For example: Kitchen/Bath remodeling, roof replacement, exterior painting, etc.)
• Information on any listing or purchase of the property within the last three years.
• Written property agreements, such as a maintenance agreement for a private road or a shared driveway. 
• Septic Systems and Wells-                                                                    Maps- Often called the "As Built", this will be a drawing showing the location of the septic and/or well in relation to the site boundaries and the building structures),                                                                                    Reports- Date the septic was last serviced or pumped.
• Information on monthly dues and a list of the common property if there is a   "Homeowners Associations" (Single-Family or Condominiums).
• For large, custom built homes with vaulted ceilings, angled wings, dormers, etc., having a copy of the blueprints available will ensure that the appraiser produces an accurate sketch of the building dimensions.
• Most recent real estate tax bill and/or legal description of the property. 
• Title policy that describes encroachments or easements

Once your appraiser has arrived, you do not need to accompany him or her along on the entire home inspection. He/She will have a few questions at the conlusion of the appraisal inspection.   Here are some other suggestions:

• Accessibility: Make sure that all areas of the home are accessible.             (Gates unlocked on fences, items removed from trap door to the underfloor crawl space). 
• Housekeeping: Appraisers see hundreds of homes a year and will look past most, but they're human beings too!    A good impression can translate into a higher home value.
• Maintenance: Repair minor things like leaky faucets, missing door handles and trim.
• FHA/VA Inspection Items: If your borrower is applying for an FHA/VA loan, be sure to ask the appraiser if there are specific things that should be done before they come. Some items they may recommend might be: Install smoke detectors on all levels (especially near bedrooms); install handrails on all stairways; remove peeling paint and all chips and repaint the effected area; provide inspection access to the the attic in addition to the underfloor crawl space.

   FHA Condominiums Purchase Appraisals:  We are required to review the resale certificate (2-4 pages) and the minutes of the last 2 homeowner's meetings. Please fax these documents to (425) 650-9934 as soon as possible.