Keystone Home Appraisals, LLC's appraisal checklist

	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.... Just give us a call at 859-781-8225 if you have any questions about the appraisal process.

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

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

• Information on the latest purchase of the property in the last three years.

• Written property agreements, such as a maintenance agreement for a shared driveway.

• 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.

• Brag sheet that lists major home improvements and upgrades, the date of their installation and their cost (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".

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

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

When the appraiser arrives, you do not need to escort him or her along on the entire site inspection, but is usually helpful be available to answer inquiries about your property and be willing to point out any home improvements.

Here are a few other recommendations:

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

• Housekeeping: Appraisers see quite a few 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 often suggest fixing small things like leaky faucets, missing door handles and trim.

• FHA and VA Inspection Items: In the case of your borrower applying for either an FHA or VA loan, definitely ask your appraiser if there are specific things that should be done before they come. Some things they may recommend might be: having smoke detectors on all levels and especially near bedrooms, where paint is peeling it should be sanded and repainted, fixing leaky or dripping faucets, replacing broken glass.