Gearing up for an appraisal from Waterstone Valuation Group

Legally, an appraiser must be state licensed to perform appraisals prepared for federally related transactions - i.e. transactions related to OTS, FDIC, etc.... Just give us a call at 7703150046 if you have any questions about the appraisal process.

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

  • A survey or plot map of the property and building (if readily available).

  • Any records on the purchase of the property for 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.

  • 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, 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 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 accompany them 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 helpful recommendations:

  • Accessibility: Appraisers are very thorough 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 will look past most clutter, but they're human beings too! A good impression can translate into a better value for your home.

  • Maintenance: We generally suggest repairing minor 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, definitely ask your appraiser if there are additional things that should be done before they arrive. Some items they may recommend might be: installing handrails on all stairways, ensuring there are electrical receptacles in every room and that each receptacle functions, fixing leaky or dripping faucets, replacing broken glass.