For homeowners, a real estate appraisal is the linchpin to buying or selling their home. It allows the property transactions to occur among the buyer, seller, real estate agent and mortgage lender.

  Before an Appraiser arrives, there are a few things you should know. By law, an appraiser must be state licensed to perform appraisals prepared for federally related transactions. Also by law, you are entitled to receive a copy of the completed appraisal report from your lender.To facilitate 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)
                    * Information on the latest purchase of the property in the
                       last three years
                    * Written property agreements, such as a maintenance
                       agreement for a shared driveway
                    * List of personal property to be sold with the home
                    * Title policy that describes 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, 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 central air conditioning or roof
                       repairs) and permit confirmation (if available)
                    * A copy of the current listing agreement and broker's data
                       sheet and Purchase Agreement if a sale is "pending".
                    * Information on "Homeowners Associations" or
                       condominium covenants and fees.
                    * A list of "proposed" improvements if the property is to be
                       appraised "As Complete" 

   Once your appraiser has arrived, you do not need to accompany him or her along on the entire site inspection, but you should be available to answer questions about your property and be willing to point out any home improvements. Here are some other suggestions:

                    * Accessibility: Make sure that all areas of the home are
                       accessible, especially to the attic and crawl space
                    * Housekeeping: Appraisers see hundreds of homes a year
                       and will look past most clutter, but they're human beings
                       too! A good impression can translate into a higher home
                       value
                    * Maintenance: Repair minor things like leaky faucets, 
                       missing door handles and trim
                    * FHA/VA Inspection Items: If your borrower is applying for
                       an FHA/VA loan, be sure to ask your appraiser if there are
                       specific things that should be done before they come.
                       Some items they may recommend might be: Install smoke
                       detectors on all levels (especially near bedrooms); install 
                       handrails on all stairways; remove peeling paint and
                       repaint
                       the effected area; provide inspection access to the attic
                       and crawl spaces.