Getting ready for an appraisal from Pomeroy Appraisal Associates of Florida Inc.
|
|
|
By law, an appraiser must be state licensed to perform appraisals prepared for federally related transactions.
Just give us a call at (386) 423-5110 if you have any questions about the appraisal process.
|
|
|
To simplify the appraisal process, it's recommended to have these documents ready for the appraiser:
-
A plot plan or survey of the house and land (if available).
-
Any records 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 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.
-
A bill for your most recent real estate taxes which should also contain a 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 upgrades, the date of their installation and their cost (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 "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 it's helpful be present to answer inquiries about your property and be willing to point out any home improvements.
Here are a few other recommendations:
-
Accessibility: Appraisers are very meticulous in their inspections. We recommend that all areas of the home are accessible, especially the attic and crawl space.
-
Housekeeping: Appraisers see a lot of homes a year and will look past most clutter, but they're human
beings too! A good impact can translate into a better home value.
-
Maintenance: We often 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, be sure to ask your appraiser if there are additional things that should be done before they come. Some things they may recommend might be:
having 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.
|