How to Prepare for an Appraisal

1. Basic cleaning and housekeeping.

Appraisers will not admit this but housekeeping can have a positive or negative affect on the appraisal. As appraisers we like to think that we can see past the junk, clutter and dirt and for the most part we can. However there is a psychological aspect of the appraisal that cannot be explained in an appraisal report. It is the appraiser's gut feeling. The cleaning and neater a home is, the more warm and fuzzy us appraisers feel. When we feel comfortable with a home, we are also more comfortable giving that home a higher value.

Extra Credit: If your home is alreadly as neat as a pin then take the time use some air freshener or light up some scented candles right before the appraiser arrives. Play some soft music as well if possible.

2. List of home improvements made in the last several years.

Have a list of home improvements and or major repairs that have been made to the home and give it to the appraiser when they start their inspection. This may help the appraiser build a better case for a higher value for your home.

3. Outdoor cleanup

Unsightly lawns should be mowed. Overgrown shrubs should be cut back where needed and possible. The grounds should be free from significant junk and debris if possible.

4. Don't talk too much...

A good appraiser needs to concentrate in order accumulate the data need on the home to complete the report. Most appraisers as they go through their inspection will make notes on questions they may have. However there are many times that a home speaks for itself and not other information from you may be needed.

5. Don't be afraid to speak up

Appraisers are humans too. If you think the appraiser may have missed something definately ask. I admit I've had some things pointed out to me that I would have missed otherwise and I was glad to be made aware of it.

Before an Appraiser arrives, there are a few things you should know. By law, an appraiser must be state licensed to perform appraisals prepared for federally related transactions. Also by law, you are entitled to receive a copy of the completed appraisal report from your lender.

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

• A plot plan or survey of the house and land (if readily available)
• Information on the latest purchase of the property in 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 home
• Title policy that describes encroachments or easements
• Most recent real estate tax bill and or 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 upgrades, 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 and 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 has arrived, you do not need to accompany him or her 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 some other suggestions:

• Accessibility: Make sure that all areas of the home are accessible, especially to 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 translate into a higher home value
• Maintenance: Repair minor things like leaky faucets, missing door handles and trim
• FHA/VA Inspection Items: If your borrower is applying for an FHA/VA loan, be sure to ask your appraiser if there are specific things that should be done before they come. Some items they may recommend might be: Install smoke detectors on all levels (especially near bedrooms); install handrails on all stairways; remove peeling paint and repaint the effected area; provide inspection access to the attic and crawl spaces.