Some nice hints to expedite your appraisal from Molinaro Associates

Did you know the borrower is entitled to receive a copy of the final appraisal report from the lender? Just give us a call at 8453570300 if you have any questions about the appraisal process.

To help the appraisal go as smoothly as possible we generally recommend to have these documents, if available, ready for the appraiser:

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

  • Any information on the purchase of the property for 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 building.

  • Any documents, such as a title policy with information on encroachments or easements encroachments or easements.

  • A bill for your most recent real estate taxes which should also contain a 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 insulation 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 if the property is to be appraised "as complete".

Once your appraiser arrives, you do not need to escort him or her along on the entire site inspection, but can be helpful be present to answer inquiries about your property and identify any home improvements.

Here are some other 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 many of homes a year and aren't surprised at seeing a bit of clutter, but they're human beings too! A good impact can mean a higher value for your home.

  • Maintenance: We generally recommend 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 arrive. Some items they may recommend might be: putting smoke detectors on all levels and especially near bedrooms, ensuring there are electrical receptacles in every room and that each outlet works, repairing any faucets that leak or drip, fixing broken windows or other glass like doors.