Michael P. Clover's appraisal to-do list

	Legally, an appraiser must be licensed by the state 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 aid 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 available).

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

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

• List of personal property to be sold with the building.

• Any paperwork, such as a title policy with information on encroachments or easements encroachments or easements.

• Most recent real estate tax bill and or legal description of the property.

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

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

• 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 when the property is being appraised "as complete".

Once your appraiser arrives, you do not need to escort him or her along on the entire site inspection, but is usually helpful be available to answer inquiries about your property and identify any home improvements.

Here are a few other 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 hundreds of homes a year and are no strangers to clutter, but they're human beings too! A good impact can translate into a better value for your home.

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

• FHA and VA Inspection Items: If your borrower is trying to apply 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 arrive. Some things they may recommend might be: having smoke detectors on all levels 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.