Gearing up for an appraisal from Scott Appraisal Services, Inc.

By law, an appraiser must be licensed by the state to perform appraisals prepared for federally related transactions - i.e. transactions related to OTS, FDIC, etc.... Contact us if you have any questions about the appraisal process.

To help the appraisal go as smoothly as possible we generally recommend to have these documents, if available, ready for the appraiser:

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

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

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

  • 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 property.

  • Home inspection reports, or other recent reports for termites, EIFS (synthetic stucco) wall systems, your septic system and wells.

  • A list of any major home improvements and enhancements, the amount of their purchase and date of their installation (for example, the addition of insulation or roof repairs) and permit confirmation (if available).

  • Locate copies of the current listing agreement, broker's data sheet and, if the sale is "pending", the purchase agreement.

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

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

Once your appraiser has arrived, you do not need to accompany them 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.

Here are a few other tips:

  • Accessibility: Appraisers are very detailed in their inspections. We recommend that all areas of the home are accessible, especially the attic and crawl space.

  • Housekeeping: Appraisers see many of homes a year and are no strangers to clutter, but they're human beings too! A good impression can translate into a higher value for your home.

  • Maintenance: We often recommend repairing minor 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 extra things that should be done before they come. Some things they may recommend might be: putting smoke detectors on all levels and especially near bedrooms, scraping and touching up where there's paint peeling, fixing leaky or dripping faucets, replacing broken glass.