Home Analytics's appraisal checklist

	To appraise a property, an appraiser is legally required to be licensed by the state when the transaction involves any federal financial regulatory agency such as Freddie Mac, Office of Thrift Supervision, and the like. Contact us if you have any questions about the appraisal process.

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

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

• Any documents, such as a title policy with information on encroachments or easements encroachments or easements.

• A bill for your most recent real estate taxes which should also contain a 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 enhancements, the amount of their purchase and date of their installation (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".

• Any "Homeowners Associations" agreements or, if applicable, condo covenants or fees.

• A list of "suggested" improvements if the property is to be appraised "as complete".

Once your appraiser has arrived, you do not need to accompany them along on the entire site inspection, but you should be present to answer questions about your property and identify any home improvements.

Here are a few other helpful tips:

• Accessibility: Appraisers are very meticulous in their inspections. You should 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 impression can mean a better value for your home.

• Maintenance: We often recommend repairing minor 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, be sure to ask your appraiser if there are specific things that should be done before they come. Some things they may recommend might be: putting smoke detectors on every floor of the home and especially near bedrooms, 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.