Option One Appraisal Services's appraisal checklist

By law, the borrower is are entitled to receive a copy of the finished appraisal report from the lender. Just give us a call at 949-502-5152 if you have any questions about the appraisal process.

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.

  • Information on any written private agreements, such as a shared driveway with a neighbor.

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

  • 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.

  • A list of any major home improvements and enhancements, 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 with broker's data sheet and purchase agreement if a sale is "pending".

  • Any "Homeowners Associations" agreements or, if applicable, condo agreements or fees.

  • A list of "suggested" improvements if the property is to be appraised "as complete".

When the appraiser has arrived, you do not need to accompany him or her along on the entire site inspection, but generally you'll want to be present to answer questions about your property and be willing to point out any home improvements.

Here are some other recommendations:

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

  • Housekeeping: Appraisers see many of homes a year and will look past most clutter, but they're human beings too! A good impression can mean a better value for your home.

  • Maintenance: We generally recommend repairing small 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, definitely ask your appraiser if there are specific things that should be done before they come. Some items they may recommend might be: installing smoke detectors on every floor of the home and especially near bedrooms, where paint is peeling it should be sanded and repainted, eliminating pull-chain lights in areas other than the basement or attic.