Preparing for an appraisal from Mike Noble Appraisals

	Did you know the borrower is entitled to receive a copy of the final appraisal report from the lender? Contact us if you have any questions about the appraisal process.

To speed up the appraisal process, it's helpful 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.

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

• 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, septic systems and wells.

• Brag sheet that lists major home improvements and enhancements, 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 "suggested" improvements if the property is to be 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 helpful recommendations:

• 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 quite a few of homes a year and aren't surprised at seeing a bit of clutter, but they're human beings too! A good impression can mean a higher value for your home.

• Maintenance: We often recommend fixing minor things like leaky faucets, missing door handles and trim.

• FHA and VA Inspection Items: If your borrower is applying for either an FHA or VA loan, be sure to ask your appraiser if there are additional things that should be done before they come. Some items they may recommend might be: installing smoke detectors on every floor of the home and especially near bedrooms, where paint is peeling it should be scraped and repainted, eliminating pull-chain lights in areas other than the basement or attic.