Schmid, Jobson & Company, LLC's appraisal checklist

Legally, an appraiser must be state licensed to perform appraisals prepared for federally related transactions - i.e. transactions related to Fannie Mae, FDIC, etc. Just give us a call at 9123083115 if you have any questions about the appraisal process.

To aid 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 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.

  • A list of any personal property that will be left behind and sold with the home, such as an oven, or a washer and dryer.

  • 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.

  • A list of any 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, in the event of a pending sale.

  • 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 arrives, you do not need to escort him or her along on the entire site inspection, but you should be available to answer questions about your property and identify any home improvements.

Here are some other tips:

  • Accessibility: Appraisers are very meticulous in their inspections. You should 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 impact can mean a higher value for your home.

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

  • FHA and VA Inspection Items: In the case of your borrower applying for either an FHA or VA loan, be sure to ask your appraiser if there are extra things that should be done before they come. Some items they may recommend might be: having handrails on all stairways, ensuring there are electrical receptacles in every room (note: GFI outlets are no longer required) and that each receptacle functions, repairing any faucets that leak or drip, replacing broken glass.