Some useful hints to save you time on your appraisal from Cornerstone Valuations

Did you know the borrower is entitled to receive a copy of the final appraisal report from the lender? Just give us a call at 3862104220 if you have any questions about the appraisal process.

To facilitate 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).

  • Records on the latest purchase of the property in the last three years.

  • Written property agreements, such as a maintenance agreement for a shared driveway.

  • A list of any personal property that will be left behind and sold with the home, such as an oven, or a washer and dryer.

  • Any documents, 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.

  • Home inspection reports, or other recent reports for termites, EIFS (synthetic stucco) wall systems, septic systems and wells.

  • A list of any major home improvements and enhancements, the amount of their purchase and date of their installation (for example, the addition of energy efficiency upgrades or roof repairs) and permit confirmation (if available).

  • Locate copies of the current listing agreement, broker's data sheet and, in the event of a pending sale.

  • Information on "Homeowners Associations" or condominium covenants and fees.

  • A list of "proposed" improvements when the property is being 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 inquiries about your property and be willing to point out any home improvements.

Here are a few other recommendations:

  • Accessibility: Appraisers are very detailed 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 are no strangers to clutter, but they're human beings too! A good impact can translate into a better home value.

  • Maintenance: We often suggest 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, definitely ask your appraiser if there are extra things that should be done before they arrive. Some items they may recommend might be: installing smoke detectors on every floor of the home and especially near bedrooms, where paint is peeling it should be sanded and repainted, eliminating pull-chain lights in areas other than the basement or attic.