RJS Appraisals'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.... Just give us a call at 646-529-5886 if you have any questions about the appraisal process.

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

  • A survey or plot map of the property and building (if available).

  • Any information on the purchase of the property for the last three years.

  • Information on any written private agreements, such as a shared driveway with a neighbor.

  • A list of any personal property that is part of the home and you intend to be sold with the home, such as an oven, or a washer and dryer.

  • 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.

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

  • Brag sheet that lists major home improvements and upgrades, the amount of their purchase and date of their installation (for example, the addition of central air conditioning or roof repairs) and permit confirmation (if available).

  • A copy of the current listing agreement with 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 "proposed" improvements if the property is to be appraised "as complete".

When the appraiser arrives, you do not need to accompany him or her along on the entire site inspection, but you should be present to answer inquiries about your property and be willing to point out any home improvements.

Here are a few other suggestions:

  • Accessibility: Appraisers are very thorough in their inspections. We recommend that all areas of the home are accessible, especially the attic and crawl space.

  • Housekeeping: Appraisers see hundreds of homes a year and are no strangers to clutter, but they're human beings too! A good impression can translate into a higher value for your home.

  • Maintenance: We generally recommend fixing 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, we strongly recommend to ask your appraiser if there are extra things that should be done before they come. Some things they may recommend might be: having handrails on all stairways, ensuring there are electrical receptacles in every room and that each receptacle functions, fixing leaky or dripping faucets, replacing broken glass.