Young Appraisal Company, Inc.'s appraisal checklist

	By law, an appraiser must be state licensed to perform appraisals prepared for federally related transactions - i.e. transactions related to Freddie Mac, Office of Thrift Supervision and the like. Contact us if you have any questions about the appraisal process.

To make your appraisal process 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 readily available).

• Information on the latest purchase of the property in the last three years.

• Written property agreements, such as a maintenance easement 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, your septic system and your well.

• A list of any major home improvements and upgrades, the date of their installation and their cost (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".

• Any "Homeowners Associations" agreements or, if applicable, condo agreements or fees.

• A list of "suggested" improvements when the property is being appraised "as complete".

When the appraiser has arrived, you do not need to accompany him or her along on the entire site inspection, but generally you'll want to be present to answer inquiries about your property and be willing to point out any home improvements.

Here are a few other tips:

• Accessibility: Appraisers are very detailed in their inspections. Make sure that all areas of the home are accessible, especially the attic and crawl space.

• Housekeeping: Appraisers see many of homes a year and will look past most clutter, but they're human beings too! A good impact can translate into a better value for your home.

• Maintenance: We generally suggest 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, definitely ask your appraiser if there are specific 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.