In order to ensure a successful and accurate appraisal on your property, there are a few things you can do to facilitate the process.
Access
The accuracy of an appraisal is dependent upon a thorough physical inspection of the property. Photographs will be taken of the exterior and interior.
The appraiser will need to have access to the exterior and the interior of the entire property. This helps to establish the quality and condition of the property as well as any special features. If complete access is not provided, the appraiser will have to make assumptions about the property, resulting in a less than accurate appraisal, which may cause the lender to deny the loan.
When scheduling an inspection, here are a few things you can do:
- Make sure that all rooms and/or office areas are unlocked, or that keys are available, and can be easily accessed on each level of the structure
- Provide access to any unfinished crawlspace, attics, or basement areas for inspection, even if it is just a quick glance
- Allow entry into garages and storage areas that also need to be inspected by the appraiser
Legal Issues
Some aspects of a property are not apparent upon inspection, such as easements and/or encroachments. Additionally, recent plats and surveys also aide in the accuracy of the appraisal. To avoid any undue delay in the appraisal or loan process, try to make arrangements to have any of the following information available to the appraiser:
- Easement or encroachment information
- Plats or surveys of the property
- Prior sales history
- Recent tax bill
- Title work
- Any property restrictions
Other Information
In some situations, a property may have other important information to disclose. If any of the following information pertains to your property, please have it available for the appraiser.
- Any prior property appraisal
- Prior home inspection
- Any current or prior sales agreement
- Any current or prior listing agreement
- Any construction plans and/or specifications
- Copies of lease contracts
- Anything else you feel may be helpful to the appraiser