Preparing for an appraisal from Britton Real Estate and Appraisals


	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 speed the appraisal process along as quickly as possible we generally recommend to have these documents, if available, ready for the appraiser:

A survey or plot map of the property and building (if readily available).
Records on the latest purchase of the property in the last three years.
Written property agreements, such as a maintenance easement 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.
Home inspection reports, or other recent reports for termites, EIFS (synthetic stucco) wall systems, your septic system and your well.
A list of any major home improvements and upgrades, 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".
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 arrives, you do not need to accompany them 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 a few other recommendations:

Accessibility: Appraisers are very thorough in their inspections. We recommend that all areas of the home are accessible, especially the attic and crawl space.
Housekeeping: Appraisers see a lot of homes a year and are no strangers to clutter, but they're human beings too! A good impression can mean a higher value for your home.
Maintenance: We often recommend repairing small 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 additional things that should be done before they arrive. Some items they may recommend might be: having handrails on all stairways, ensuring there are electrical receptacles in every room and that each outlet works, eliminating pull-chain lights in areas other than the basement or attic.