Some helpful tips to expedite your appraisal from Migliorini & Associates

By law, an appraiser must be licensed by the state to perform appraisals prepared for federally related transactions - i.e. transactions related to OTS, FDIC, etc.... Contact us if you have any questions about the appraisal process.

To simplify 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).

  • Records on the latest purchase of the property in 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 building.

  • 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 your well.

  • Brag sheet that lists major home improvements and upgrades, the amount of their purchase and date of their installation (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 "proposed" improvements if the property is to be appraised "as complete".

When the appraiser has arrived, you do not need to escort him or her along on the entire site inspection, but you should be present to answer questions about your property and be willing to point out any home improvements.

Here are a few other helpful tips:

  • Accessibility: Appraisers are very detailed in their inspections. You should make sure 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 are no strangers to clutter, but they're human beings too! A good impression can translate into a higher home value.

  • 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, definitely ask your appraiser if there are extra things that should be done before they arrive. Some things they may recommend might be: installing a banister on all stairways, where paint is peeling it should be scraped and repainted, eliminating pull-chain lights in areas other than the basement or attic.