Veritech Appraisal's appraisal to-do list

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

To make your appraisal process go as smoothly as possible we generally recommend to have these documents, if available, ready for the appraiser:

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

  • Any information 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 home.

  • Title policy that describes 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, septic systems and wells.

  • Brag sheet that lists major home improvements and enhancements, 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).

  • Locate copies of the current listing agreement, broker's data sheet and, if the sale is "pending", the purchase agreement.

  • Any "Homeowners Associations" agreements or, if applicable, condo agreements or fees.

  • A list of "suggested" improvements when the property is being appraised "as complete".

Once your appraiser arrives, you do not need to accompany him or her along on the entire site inspection, but generally you'll want to be present to answer questions about your property and identify any home improvements.

Here are a few other suggestions:

  • 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 a lot of homes a year and will look past most clutter, but they're human beings too! A good impression can mean a higher value for your home.

  • Maintenance: We generally recommend 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 come. Some things they may recommend might be: installing smoke detectors on every floor of the home and especially near bedrooms, ensuring there are electrical receptacles in every room (note: GFI outlets are no longer required) and that each outlet functions, eliminating pull-chain lights in areas other than the basement or attic.