Gearing up for an appraisal from Taylor Sturgis

To appraise a property, an appraiser is required to be licensed by the state when the transaction involves any federal financial regulatory agency such as Freddie Mac, Office of Thrift Supervision, and the like. Just give us a call at 2147974217 if you have any questions about the appraisal process.

To speed up 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 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, your septic system and wells.

  • A list of any major home improvements and upgrades, the date of their installation and their cost (for example, the addition of insulation 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.

  • Information on "Homeowners Associations" or condominium covenants and fees.

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

When the appraiser has arrived, you do not need to accompany him or her along on the entire site inspection, but you should be present to answer questions about your property and identify any home improvements.

Here are a few other helpful tips:

  • Accessibility: Appraisers are very meticulous 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 better home value.

  • Maintenance: We often suggest repairing small 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, we strongly recommend to ask your appraiser if there are specific things that should be done before they arrive. Some items they may recommend might be: putting smoke detectors on every floor of the home and especially near bedrooms, ensuring there are electrical receptacles in every room and that each outlet works, eliminating pull-chain lights in areas other than the basement or attic.