How to Prepare for an Appraisal
              
                               
    For homeowners, a real estate appraisal is the key to buying or selling home, and the
    appraiser is the gatekeeper (so to speak). 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. It is against appraisal regulations for the appraiser to provide the borrower with a
    copy of the appraisal, unless the lender grants permission.  This regulation does not apply
    to individual seeking an appraisal.

    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)

         ~ The latest purchase/transaction/refinance of the property        
            within the last three years

         ~ List of personal property to be sold with the home

         ~ Title policy that describes encroachments or easements

     ~ Brag sheet that lists major home improvements and upgrades, the              
              date of their installation, and estimate of cost(s).

     ~ A list of "Proposed" improvements if the property is to be appraised     
              "Subject to Completion."

    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.







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