Getting Ready for an Appraisal from CMH Appraisals
By law, the borrower is are entitled to receive a copy of the finished appraisal report from the lender. Contact us 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 survey or plot map of the property and building (if available).
- Any records on the purchase of the property for the last three years.
- Written property agreements, such as a maintenance easement for a shared driveway.
- A list of any personal property that is part of the home and you intend to be sold with the home, such as an oven, or a washer and dryer.
- Any paperwork, 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.
- Any inspection reports, or other recent reports for termites, EIFS (synthetic stucco) wall systems, septic systems and your well.
- Update 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).
- Find copies of the current listing agreement, broker’s data sheet and, if the sale is “pending”, the purchase agreement.
- Information on “Homeowners Associations” or condominium covenants and fees.
- A list of “proposed” improvements if the property is to be appraised “as complete”.
When the appraiser has arrived, you do not need to escort him or her along on the entire site inspection, but it’s helpful to be available to answer questions about your property and be willing to point out any home improvements.
Upon Arrival
When the appraiser has arrived, you do not need to escort him or her along on the entire site inspection, but it’s helpful to be available to answer questions about your property and be willing to point out any home improvements.
Here are some other recommendations:
FHA and VA Inspection Items: If your borrower is trying to apply for either an FHA or VA loan, be sure to ask your appraiser if there are extra things that should be done before they arrive. Some things they may recommend are: installing handrails on all stairways; ensuring there are electrical receptacles in every room and that each outlet works; and eliminating pull-chain lights in areas other than the basement or attic.
Accessibility: Appraisers are very thorough in their inspections. We recommend that all areas of the home be accessible, especially the attic and crawl space.
Housekeeping: Appraisers see quite a few homes a year and aren’t surprised at seeing a bit of clutter, but they’re human beings too! A good impression can mean a higher home value.
Maintenance: We often suggest fixing small things like leaky faucets, missing door handles, and trim.
