"Appraisal Inspection Preparation"

Provided by Albert Marshall Cheney, Certified Residential Real Property Appraiser and FHA/HUD Appraiser, within the Mobile Bay Metro Area, Baldwin & Mobile Counties of Alabama

A residential appraisal report is one of the integral parts when refinancing, purchasing or selling their home.  As for purchasing or selling a home, the residential appraisal report assists in allowing real property transactions to occur between a buyer, a seller, a real estate agent and the mortgage lender.

Before residential appraiser arrives, there are a few things you should know.  By law, a residential appraiser MUST be licensed within his or her State, in order to complete residential appraisal reports prepared for federally related transactions.  Also by law, you are entitled to receive a copy of the completed residential appraisal report from your lender.  Homeowners should contact your lender in writing and request a copy of the completed residential appraisal report!

To facilitate the appraisal process, it would be beneficial to have these documents ready for the Certified or State Licensed real estate 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 (3) 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 real property;
• Home inspection reports, or other recent reports for termites, EIFS (synthetic stucco) wall systems, septic systems and irrigation or well systems;
• Brag sheet which 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, dues and other fees;
• A list of "proposed" improvements if the real property is to be appraised "As Complete."

Once your Certified Residential Real Property Appraiser or State Licensed residential appraiser has arrived, it is not necessary to accompany him or her on the entire site inspection but, you should be available to answer questions about your real property and be willing to point out any home improvements.

Here are some other helpful suggestions:

• Accessibility:  Make sure all areas of the home are accessible, especially access to the attic and crawl space;
• Housekeeping:  Real estate appraisers inspect many homes a year and will look past most clutter, but they are 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, unfinished painting;
• FHA/VA Inspection Items:  If your borrower is applying for an FHA/VA loan, be sure to ask your real estate appraiser if there are specific things which should be done before they come.  Some items they may recommend might be such as install smoke detectors on all levels (especially near bedrooms), install handrails on all stairways, remove peeling paint and repaint the effected area(s), provide inspection access to all attic and crawl areas, and having all utilities (electricity, gas, water) on at the time of inspection.

Albert Marshall Cheney, a Certified Residential Real Property Appraiser & FHA/HUD Appraiser with over 30 years experience, is ready to assist you with your real estate appraisal assignment within the city of Mobile as well as the other communities within the "Mobile Bay Metro Area," Baldwin & Mobile Counties of Alabama!