There are a few things you can do before your inspection date to ensure a seamless appraisal. For reference, an appraisal determines a properties worth, so a bank doesn’t overcompensate when lending clients money for a mortgage. Before having an appraisal done, it’s important to be prepared. To help ensure that your appraisal goes smoothly, here is a short checklist:
Clean house – Though the appraiser will not take tidiness into account when evaluating the property, it’s important to clean up for accessibility reasons. That means making sure the appraiser can get to boilers, vents, fireplaces, and circuit breakers. Make sure they are easily accessible!
Disclose works in progress – Having a home is a lot of work. Home improvement and repair projects can often take months to complete. Be sure to disclose these to the appraiser prior to their arrival.
Recent repairs – The same goes for recent improvements, repairs, features and amenities. If you have improved the house make sure they know what to look for going in.
Get the docs – Be sure to gather any documentation that may be needed prior to the appraisal. This could include contact information for your homeowner’s association, taxes, permits for new additions or any other documentation that might be difficult for the appraiser to retrieve through public records. You can also provide a way for your appraiser to connect with your builder to get details for the appraisal report.
When having your home appraised, it’s also important to note that you should never ask about the value of the home, or how the appraiser was chosen for the job. Remember, the appraisal is actually performed for the lender and asking these questions can be construed as trying to influence the appraised value. Doing so may delay the mortgage process as a new appraiser could be assigned to your loan and they would have to start the process all over, from the beginning.
The appraisal process is very detailed, and it can take some time to procure all of the information used to determine a property’s value. Any information provided on the front end can prevent any headaches that could occur later in the process, and ensure that your appraisal is both quick and painless!
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