Some nice tips to speed your appraisal along from Cotter Valuation Group

By law, an appraiser must be state licensed to perform appraisals prepared for federally related transactions - i.e. transactions related to OTS, FDIC, etc.... Contact us if you have any questions about the appraisal process.

To speed up the appraisal process, it's recommended to have these documents ready for the appraiser:

  • A survey or plot map of the property and building (if available).

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

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

  • 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, your septic system and your well.

  • A list of any major home improvements and upgrades, the amount of their purchase and date of their installation (for example, the addition of energy efficiency upgrades or roof repairs) and permit confirmation (if available).

  • Locate copies of the current listing agreement, broker's data sheet and, in the event of a pending sale.

  • Any "Homeowners Associations" agreements or, if applicable, condo agreements 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 accompany him or her along on the entire site inspection, but generally you'll want to be present to answer questions about your property and identify any home improvements.

Here are a few other helpful tips:

  • Accessibility: Appraisers are very detailed in their inspections. You should 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 home value.

  • Maintenance: We often suggest repairing 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, we strongly recommend to ask your appraiser if there are extra things that should be done before they come. Some things they may recommend might be: putting smoke detectors on all levels and especially near bedrooms, where paint is peeling it should be sanded and repainted, eliminating pull-chain lights in areas other than the basement or attic.