Some great tips to save you time on your appraisal from Wicomico Appraisals, LLC

To appraise a property, an appraiser needs to be licensed by the state when the transaction involves any federal financial regulatory agency such as Freddie Mac, Office of Thrift Supervision, and the like. Contact us if you have any questions about the appraisal process.

To aid the appraisal process, it's helpful to have these documents ready for the appraiser:

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

  • Records on the latest purchase of the property in 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.

  • A bill for your most recent real estate taxes which should also contain a legal description of the property.

  • Any 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 amount of their purchase and date of their installation (for example, the addition of central air conditioning 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 escort him or her along on the entire site inspection, but generally you'll want to be available to answer inquiries about your property and be willing to point out any home improvements.

Here are some other helpful recommendations:

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

  • Housekeeping: Appraisers see a lot 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 better value for your home.

  • Maintenance: We often suggest 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, definitely ask your appraiser if there are extra things that should be done before they arrive. Some items they may recommend might be: installing handrails on all stairways, ensuring there are electrical receptacles in every room and that each receptacle functions, repairing any faucets that leak or drip, replacing broken glass.