Preparing for Real Estate Home Appraisals

Before a real estate home appraiser arrives, there are a few things you should know.

By law, an appraiser must be state-certified and licensed to perform appraisals prepared for federally related real estate transactions. Also by law, you are entitled to receive a copy of the completed real estate appraisal report from your lender.

To facilitate the real estate home appraisal process, have these documents ready for the real estate appraiser:

• Information on the latest purchase of the real estate property in the last three years
• Most recent real estate tax bill and or legal description of the real estate property
• List of personal property to be sold with the home
• A plot plan or survey of the house and land (if available)
• Written real estate property agreements, such as a maintenance agreement for a shared driveway, etc.
• Title policy that describes encroachments or easements
• Home inspection reports, or other recent reports for termites, EIFS (synthetic stucco) wall systems, septic systems and wells
• Brag sheet that lists major home improvements and upgrades, the date of their installation and their cost (for example, the addition of central air conditioning or roof repairs) and permit confirmation (if available)
• A copy of the current listing agreement and 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".