A home appraisal is a critical step in the buying or selling process, as well as in situations like divorce settlements and estate planning. Whether you’re a homeowner looking to sell, a buyer securing a mortgage, or someone navigating legal matters, ensuring your home is properly evaluated can make a big difference. Understanding how to prepare for an appraisal helps maximize your home’s value and ensure a smooth process.
Grant Access to All Areas
Lenders typically want the appraisal to reflect the current condition of the property, meaning the appraiser needs full access to all areas of your home. If the appraiser cannot access certain areas, they may need to make assumptions, which can negatively impact the appraisal or lead the lender to refuse the loan. To facilitate access, provide access to all spaces in your home.
- Rooms: Make sure every room is accessible. If some family members work nights and sleep during the day, plan accordingly so the appraiser can view all rooms.
- Attics and Crawl Spaces: Attics and crawl spaces should be clean, dry, and accessible. The appraiser needs to be able to conduct at least a head-and-shoulder inspection.
- Storage Areas: The appraiser needs to view all garages, storage areas, closets, and basements. Ensure these spaces are unlocked and ready for inspection.
- Interior and Exterior Photographs: The appraiser will be taking interior and exterior photographs, so make sure your home is presentable both inside and out.
Address Legal and Title Issues
No one wants to delay a transaction over legal or title issues. Issues, such as easements or encroachments, may not be immediately apparent to the appraiser, but can arise later during the lender’s legal review. To avoid delays and additional costs, make sure you have the following documents ready.
- Title Work: Provide any relevant title documents.
- Easements and Encroachments: Have information on any easements or encroachments that affect your property.
- Permits: Provide copies of permits for any additions or recent work on your home.
- Property Survey: Have a property survey available if applicable.
- Sales History: Provide information on the previous sales history of the home.
- Recent Tax Bill: Have a copy of your most recent property tax bill.
- Private Road Information: If your home is on a private road, have relevant information available.
Provide Additional Documentation
The more information you can provide to the appraiser, the smoother and faster the appraisal process will be. If you have any of the following information, make sure to have it available for the appraiser.
- Previous Appraisals: Copies of prior appraisals on the property.
- Home Inspections: Copies of home inspection reports.
- Sales Agreements: Copies of current or previous sales agreements.
- Listing Agreements: Copies of current or previous listing agreements.
- Personal Property: A list of any personal property being sold with your home.
- Plans and Specifications: If applicable, provide plans and specifications for the original structure of your home and any new additions.
- Other Useful Information: Any other information that may be useful to the appraiser should be made available.
By preparing in advance, you can help ensure a fair and accurate appraisal, whether you’re buying, selling, or handling a legal matter. If you need a professional appraisal, our experienced team is here to help.