Some useful tips to speed your appraisal along from Serviced Appraisals

By law, the borrower is are entitled to receive a copy of the final appraisal report from the lender. Just give us a call at (636) 236-9054 if you have any questions about the appraisal process.

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

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

  • Information on the latest purchase of the property in the last three years.

  • Information on any written private agreements, 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.

  • 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, septic systems and your well.

  • Brag sheet that lists major home improvements and upgrades, the date of their installation and their cost (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 covenants or fees.

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

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

Here are some other suggestions:

  • Accessibility: Appraisers are very detailed in their inspections. You should make sure 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 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 trying to apply for either an FHA or VA loan, we strongly recommend to ask your appraiser if there are specific things that should be done before they arrive. Some things they may recommend might be: having a banister on all stairways, 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.