Some great hints to expedite your appraisal from MVP Appraisal Group

To appraise a property, an appraiser is legally required to be licensed by the state when the transaction involves any federal financial regulatory agency such as Fannie Mae, FDIC, etc. Just give us a call at (314) 473-6948 if you have any questions about the appraisal process.

To speed up 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 available).

  • Any information on the purchase of the property for the last three years.

  • Information on any written private agreements, such as a shared driveway with a neighbor.

  • A list of any personal property that will be left behind and 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.

  • 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.

  • Brag sheet that lists major home improvements and enhancements, the date of their installation and their cost (for example, the addition of energy efficiency upgrades or roof repairs) and permit confirmation (if available).

  • Find copies of the current listing agreement, broker's data sheet and, in the event of a pending sale.

  • Information on "Homeowners Associations" or condominium covenants and fees.

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

Once your appraiser arrives, you do not need to accompany them along on the entire site inspection, but it's helpful be available to answer inquiries about your property and be willing to point out any home improvements.

Here are some other helpful tips:

  • 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 many of homes a year and aren't surprised at seeing a bit of clutter, but they're human beings too! A good impact can mean a higher home value.

  • Maintenance: We generally recommend repairing minor things like leaky faucets, missing door handles and trim.

  • FHA and VA Inspection Items: In the case of your borrower applying for either an FHA or VA loan, be sure to ask your appraiser if there are extra things that should be done before they come. Some items they may recommend might be: having smoke detectors on every floor of the home and especially near bedrooms, ensuring there are electrical receptacles in every room and that each outlet functions, repairing any faucets that leak or drip, replacing broken glass.