By law, the borrower is are entitled to receive a copy of the final appraisal report from the lender. Just give us a call at 850-785-0062 if you have any questions about the appraisal process.
To speed up 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.
Information on any written private easements, such as a shared driveway with a neighbor.
List of personal property to be sold with the building.
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.
Home inspection reports, or other recent reports for termites, EIFS (synthetic stucco) wall systems, septic systems 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 Insulation 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".
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".
When the appraiser has arrived, you do not need to accompany them along on the entire site inspection, but can be helpful be present to answer questions about your property and identify any home improvements.
Here are a few other tips:
Accessibility: Make sure that all areas of the home are accessible, especially to the attic and crawl space.
Housekeeping: Appraisers see quite a few of homes a year and are no strangers to clutter, but they're human beings too! A good impact can translate into a higher home value.
Maintenance: We often suggest fixing 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 additional things that should be done before they arrive. Some things they may recommend might be: having handrails on all stairways; scraping and touching up where there's paint peeling; fixing leaky or dripping faucetsfixing broken windows or other glass like doors. And lastly, we will need to see the attic and crawl space areas, too.
