Gearing up for an appraisal from Estep Appraisals

	To appraise a property, an appraiser is required to be licensed by the state when the transaction involves any federal financial regulatory agency such as Freddie Mac, Office of Thrift Supervision, and the like. Just give us a call at (606) 232-7830 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 plot plan or survey of the house and land (if available).

• Information on the latest purchase of the property in the last three years.

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

• 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 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, your septic system and your well.

• Brag sheet that lists major home improvements and enhancements, the amount of their purchase and date of their installation (for example, the addition of central air conditioning 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 when the property is being appraised "as complete".

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

Here are a few other helpful suggestions:

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

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

• Maintenance: We generally recommend repairing small 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, definitely ask your appraiser if there are additional things that should be done before they come. Some things they may recommend might be: installing a banister on all stairways, ensuring there are electrical receptacles in every room and that each outlet works, eliminating pull-chain lights in areas other than the basement or attic.