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How To Prepare For An Appraiser
Ft Myers, Naples, Bonita Springs
and Cape Coral
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. By law, an appraiser
must be state licensed to perform appraisals prepared for
federally related transactions. Also by law, you are entitled
to receive a copy of the completed appraisal report from your
lender.
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)
- Information on the latest purchase of
the property in the last three years
- Written property agreements, such as a
maintenance agreement for a shared driveway
- List of personal property to be sold with
the home
- Title policy that describes encroachments
or easements
- Most recent real estate tax bill and or
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 upgrades, the date of their installation and their
cost (for example, the addition of central air conditioning
or roof repairs) and permit confirmation (if available
- A copy of the current listing agreement
and broker's data sheet and Purchase Agreement if a sale
is "pending".
- Information on "Homeowners Associations"
or condominium covenants and 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 accompany
him or her along on the entire site inspection, but you should
be available to answer questions about your property and be
willing to point out any home improvements.
Here are some other suggestions:
- Accessibility: Make sure that all areas
of the home are accessible, especially to 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 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
your 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 repaint the effected area; provide inspection
access to the attic and crawl
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