Getting ready for an appraisal from Penfold & Associates Appraisal Service

	By law, the borrower is are entitled to obtain a copy of the final appraisal report from the lender. Contact us if you have any questions about the appraisal process.

To facilitate the appraisal process, it's helpful to have these documents ready for the appraiser:

• A plot plan or survey of the house and land (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.

• A list of any personal property that is part of the home and you intend to be sold with the home, such as an oven, or a washer and dryer.

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

• Most recent real estate tax bill and or legal description of the property.

• 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 enhancements, 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 arrives, you do not need to escort them along on the entire site inspection, but generally you'll want to be present to answer questions about your property and identify any home improvements.

Here are some other helpful recommendations:

• Accessibility: Appraisers are very detailed in their inspections. We recommend 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 will look past most clutter, but they're human beings too! A good impression can translate into a better home value.

• Maintenance: We often suggest repairing 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, we strongly recommend to ask your appraiser if there are specific things that should be done before they come. Some items they may recommend might be: having smoke detectors on all levels and especially near bedrooms, where paint is peeling it should be sanded and repainted, repairing any faucets that leak or drip, fixing broken windows or other glass like doors.