For homeowners, a real estate appraisal is the linchpin to buying or selling their home. It allows the property transactions to occur among the buyer, seller, real estate agent and mortgage lender.

Before an appraiser arrives, there are a few things you should know. By law, a property 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 survey of the house and land (if readily available).

• Written property agreements if any, such as a maintenance agreement for a shared driveway or private road.

• Recent home inspection reports, recent termite inspection reports, recent inspection reports for septic system and/or well.

• Brag sheet that lists major home improvements and upgrades, the approximate date of their installation and their approximate cost (for example, kitchen or bath renovations, replacement of central heat/AC units or roof replacement) and permit confirmation (if available).

• A copy of the current Purchase Agreement if a sale is "pending".

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

• A list of "Proposed" improvements or additions including drawings and builder's specifications if the property is to be appraised "Subject to Completion".

Once our 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 all exterior walls, porches, garage, attic and crawl space.

• Housekeeping: Appraisers see hundreds of homes a year and will usually look past most clutter, but it is always prudent to make a good impression when someone is visiting your home whether it is a potential buyer or an appraiser.

• Maintenance: Repair structural or appearance problems such as: defective roofs and resulting damage, missing or broken doors, windows or screens, rotten wood, inoperable heat/AC systems or pools, large holes in walls or ceilings, peeling or poorly painted surfaces, poorly maintained landscaping, worn out floor coverings. The property will be appraised AS IS effective the day the appraiser inspects it. What would a buyer likely pay for your house if they saw it in the exact same condition as the appraiser did on the day of his or her inspection?

•  What things would you do to your house in order to get the best sale price from your best prospect? Those are probably the same things that will result in a higher appraised value.

• 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 he or she comes out. FHA/VA requires a much more extensive inspection by the appraiser and all defaults found must be repaired prior to the loan closing.

Contact Us Today to Discover How We Can Meet Your Needs

FOR FASTEST REPONSE: SEND TEXT MESSAGE TO 407-234-7545

Rhodes Appraisal Service LLC, 1264 Hibiscus Ln, Apopka, FL 32703  

Telephone: 407-234-7545

E-mail: rhodesappraisal@outlook.com