Tyler Newton & Associates's appraisal to-do list

By law, an appraiser must be licensed by the state to perform appraisals prepared for federally related transactions - i.e. transactions related to Fannie Mae, FDIC, etc. Just give us a call at 231-759-6886 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).

  • 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.

  • 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.

  • Title policy that lists 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 your well.

  • Brag sheet that lists major home improvements and enhancements, the date of their installation and their cost (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".

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

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

When the appraiser has arrived, you do not need to escort him or her along on the entire site inspection, but it's helpful be available to answer questions about your property and be willing to point out any home improvements.

Here are some other recommendations:

  • Accessibility: Appraisers are very meticulous in their inspections. Make sure that all areas of the home are accessible, especially the attic and crawl space.

  • Housekeeping: Appraisers see a lot 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 often 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 come. Some things they may recommend might be: installing handrails on all stairways, removing and touching up where there's paint peeling, eliminating pull-chain lights in areas other than the basement or attic.