Getting ready for an appraisal from Wolfe Appraisal & Consulting, Inc

Did you know you, as a borrower, are entitled to receive a copy of the finished appraisal report from the lender? Contact us if you have any questions about the appraisal process.

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

  • A plot plan or survey of the house and land (if readily available).

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

  • Written property agreements, such as a maintenance easement for a shared driveway.

  • List of personal property to be sold with the home.

  • Title policy that lists encroachments or easements.

  • Most recent real estate tax bill and or 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 upgrades, the date of their installation and their cost (for example, the addition of insulation or roof repairs) and permit confirmation (if available).

  • Locate copies of the current listing agreement, broker's data sheet and, if the sale is "pending", the purchase agreement.

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

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

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

Here are a few other tips:

  • Accessibility: Appraisers are very detailed in their inspections. Make sure 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 are no strangers to clutter, but they're human beings too! A good impression can translate into a higher value for your home.

  • Maintenance: We often recommend fixing 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 specific things that should be done before they arrive. Some things they may recommend might be: installing handrails on all stairways, ensuring there are electrical receptacles in every room (note: GFI outlets are no longer required) and that each outlet works, eliminating pull-chain lights in areas other than the basement or attic.