Gearing up for an appraisal from Field Appraisals

	Did you know the borrower is entitled to receive a copy of the final appraisal report from the lender? Just give us a call at 8505164263 if you have any questions about the appraisal process.

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

• A plot plan or survey of the house and land (if available).

• Any records on the purchase of the property for 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 building.

• Title policy that describes encroachments or easements.

• A bill for your most recent real estate taxes which should also contain a legal description of the property.

• Any inspection reports, or other recent reports for termites, EIFS (synthetic stucco) wall systems, septic systems and your well.

• Brag sheet that lists major home improvements and enhancements, 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 with 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 when the property is being appraised "as complete".

Once your appraiser has arrived, you do not need to escort him or her along on the entire site inspection, but can be helpful be present to answer questions about your property and be willing to point out any home improvements.

Here are a few other recommendations:

• Accessibility: Appraisers are very meticulous in their inspections. Make sure 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 impact can translate into a higher value for your home.

• Maintenance: We generally suggest fixing 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 extra things that should be done before they arrive. Some items they may recommend might be: installing handrails on all stairways, ensuring there are electrical receptacles in every room (note: GFI outlets are no longer required) and that each outlet functions, repairing any faucets that leak or drip, fixing broken windows or other glass like doors.