First Advantage Appraisal Service's appraisal to-do list

Legally, an appraiser must be state licensed to perform appraisals prepared for federally related transactions - i.e. transactions related to OTS, FDIC, etc.... Contact us if you have any questions about the appraisal process.

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

  • A plot plan or survey of the house and land (if readily available).

  • Records on the latest purchase of the property in 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 home.

  • 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, your septic system 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 if the property is to be appraised "as complete".

When the appraiser has arrived, you do not need to escort them along on the entire site inspection, but generally you'll want to be present to answer inquiries about your property and be willing to point out any home improvements.

Here are some other helpful recommendations:

  • Accessibility: Appraisers are very detailed in their inspections. We recommend 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 mean a higher home value.

  • Maintenance: We generally suggest fixing minor things like leaky faucets, missing door handles and trim.

  • FHA and VA Inspection Items: In the case of your borrower trying to apply for either an FHA or VA loan, be sure to ask your appraiser if there are additional things that should be done before they come. Some things they may recommend might be: installing a banister on all stairways, where paint is peeling it should be sanded and repainted, eliminating pull-chain lights in areas other than the basement or attic.