Getting ready for an appraisal from Evaluating Property in the MidSouth (EPM)

To appraise a property, an appraiser needs to be licensed by the state when it's a federally related transaction. Just give us a call at 9014129888 if you have any questions about the appraisal process.

To speed the appraisal process along as quickly 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 available).

  • Information on the latest purchase of the property in 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 documents, 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.

  • A list of any major home improvements and upgrades, the amount of their purchase and date of their installation (for example, the addition of insulation 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 covenants or fees.

  • A list of "proposed" improvements if the property is to be appraised "as complete".

Once your appraiser arrives, you do not need to escort him or her along on the entire site inspection, but it's helpful be present to answer inquiries about your property and identify any home improvements.

Here are some other helpful recommendations:

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

  • Housekeeping: Appraisers see hundreds of homes a year and will look past most clutter, but they're human beings too! A good impact can mean a higher home value.

  • Maintenance: We often suggest fixing small 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, definitely ask your appraiser if there are extra things that should be done before they arrive. Some items they may recommend might be: having handrails on all stairways, ensuring there are electrical receptacles in every room and that each outlet functions, repairing any faucets that leak or drip, replacing broken glass.