How to Prepare for an Appraisal
Trim all bushes that hinder access to the exterior of the property
The entire exterior of the property and any buildings on the property must be fully measured. Lenders can require that the appraiser go back out for another inspection if the property cannot be fully measured.
Chiggers, ticks, and bugs are no fun for anyone
Remove all items from the sides of the property
The entire exterior of the property and any buildings on the property must be fully measured
Unlock and open all exterior buildings on the property
Everything on the property must be inspected just like the main dwelling
Unlock and open crawl space and attic
If ladders are needed please have them ready.
All rooms of the dwelling and any exterior buildings must be inspected and photographed
Please make sure they are all accessible and can be inspected. Remove any items you do not want photographed.
Prepare a list of all major updates that have occurred in the previous 15 years
Examples: Roof, HVAC, Kitchen, Flooring, Bathrooms, Plumbing, Electrical
Note where air handlers and H2O heaters are located
Make sure they can be photographed. Note that a safety drain must be installed no more than six inches off of the ground, per building code. This is one of the most "failed" items noted on an appraisal report.
Manufactured properties - note where the exterior labels and the interior tag are located
Have data available such as numbers, manufacturer, date of manufacture, etc available
Frequent Issues at inspection....here are a few items that we see regularly which cause lender required repairs
FHA, USDA, VA, and any property built in 1978 and before CANNOT have any peeling paint. This includes any building located on the property.
Cracked / Broken Windows
This is considered a safety hazard
This can be considered a safety hazard
Stains on the ceilings
If you have water stains from a previous leak. Please be prepared to have proof that the leak was corrected and/or a new roof was installed
All interior stairs and exterior stairs must have a railing. Typically the only time this is not true is if the porch / deck is less than 2' high from the ground. However, this can be required by the lender regardless of height.
Safety hazard, typically required by all lenders, and required by most counties per building codes
Water and/or Electricity Off
FHA, USDA, VA all require utilities to be on. It is often a requirement of the lender for any loan.
Windows must be able to be opened, this is a safety hazard.
What Information Does The Appraiser Need
The below information
Any lockbox data
If managed by a rental company - name and number of company along with name of property
Any major updates in the previous 15 years (see above)
Private street - who maintains
HOA data - contact information and yearly amount