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Gearing up for an appraisal from Martin & Associates

By law, the borrower is are entitled to receive a copy of the completed appraisal report from the lender. Just give us a call at 804-270-7777 if you have any questions about the appraisal process.

To facilitate the appraisal process, it's helpful to have these documents ready for the appraiser:

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

  • Records on the latest purchase of the property in the last three years.

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

  • List of personal property to be sold with the building.

  • Any paperwork, 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, your septic system and your well.

  • Brag sheet that lists major home improvements and upgrades, the amount of their purchase and date of their installation (for example, the addition of insulation 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".

  • Any "Homeowners Associations" agreements or, if applicable, condo covenants or 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 it's helpful be present to answer inquiries about your property and identify any home improvements.

Here are a few other helpful tips:

  • Accessibility: Appraisers are very meticulous in their inspections. Make sure 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 value for your home.

  • Maintenance: We generally recommend fixing minor things like leaky faucets, missing door handles and trim.

  • FHA and VA Inspection Items: In the case of your borrower trying to apply 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 items they may recommend might be: installing handrails on all stairways, removing and repainting where there's paint peeling, eliminating pull-chain lights in areas other than the basement or attic.