VolkHaus Appraisals: Our Checklist 

	Legally, an appraiser must be licensed by the state to perform appraisals prepared for federally related transactions - i.e. transactions related to Fannie Mae, FDIC, etc. Just give us a call at (720) 232-1075 if you have any questions about the appraisal process.

• A plot plan or survey of the house and land (if readily available).

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

• Written property agreements, such as a maintenance easement 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.

• Title policy that lists encroachments or easements.

• Most recent real estate tax bill and or legal description of the property.

• Any 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 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).

• A copy of the current listing agreement with broker's data sheet and purchase agreement if a sale is "pending".

• Information on "Homeowners Associations" or condominium covenants and fees.

• A list of "suggested" improvements when the property is being appraised "as complete".

   

  

   

When the appraiser arrives, you do not need to accompany them along on the entire site inspection, but generally you'll want to be present to answer inquiries about your property and identify any home improvements.

Here are some other helpful recommendations:

• Accessibility: Appraisers are very thorough in their inspections. Make sure that all areas of the home are accessible, especially the attic and crawl space.

• Housekeeping: Appraisers see hundreds of homes a year and aren't surprised at seeing a bit of clutter, but they're human beings too! A good impact can mean a higher value for your home.

• Maintenance: We generally suggest repairing small things like leaky faucets, missing door handles and trim.

• FHA and VA Inspection Items: If your borrower is applying for either an FHA or VA loan, be sure to ask your appraiser if there are specific things that should be done before they come. Some things they may recommend might be: installing smoke detectors on all levels and especially near bedrooms, ensuring there are electrical receptacles in every room (note: GFI outlets are no longer required) and that each receptacle functions, repairing any faucets that leak or drip, replacing broken glass.