Madison Laine Assoc Inc's appraisal to-do list


	Legally, an appraiser must be licensed by the state to perform appraisals prepared for federally related transactions - i.e. transactions related to OTS, FDIC, etc.... Just give us a call at 8502436177 if you have any questions about the appraisal process.

To help the appraisal go as smoothly as possible we generally recommend to have these documents, if available, 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.
Information on any written private agreements, such as a shared driveway with a neighbor.
List of personal property to be sold with the home.
Title policy that lists 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, your septic system and wells.
A list of any major home improvements and upgrades, the date of their installation and their cost (for example, the addition of energy efficiency upgrades 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 agreements 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 him or her along on the entire site inspection, but generally you'll want to be available to answer inquiries about your property and be willing to point out any home improvements.

Here are some other helpful tips:

Accessibility: Appraisers are very thorough in their inspections. You should make sure that all areas of the home are accessible, especially the attic and crawl space.
Housekeeping: Appraisers see many of homes a year and will look past most clutter, but they're human beings too! A good impact can translate into a higher home value.
Maintenance: We generally recommend fixing minor 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, we strongly recommend to ask your appraiser if there are extra things that should be done before they come. Some items they may recommend might be: having handrails on all stairways, where paint is peeling it should be removed and repainted, eliminating pull-chain lights in areas other than the basement or attic.