Gearing up for an appraisal from Ballard Appraisal Service


	Did you know the borrower is entitled to receive a copy of the completed appraisal report from the lender? Just give us a call at 605-335-8315 if you have any questions about the appraisal process.

To speed the appraisal process along as quickly 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 available).
Information on the latest purchase of the property in the last three years.
Written property agreements, such as a maintenance easement for a shared driveway.
A list of any personal property that is part of the home and you intend to be sold with the home, such as an oven, or a washer and dryer.
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, your septic system and wells.
Brag sheet that lists 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).
A copy of the current listing agreement with broker's data sheet and purchase agreement if a sale is "pending".
Information on "Homeowners Associations" or condominium covenants and fees.
A list of "proposed" improvements when the property is being appraised "as complete".

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

Here are a few other helpful suggestions:

Accessibility: Appraisers are very detailed in their site viewings. You should make sure 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! However with showing to potential buyers a good impact can mean a better value for your home.
Maintenance: We often suggest fixing 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, we strongly recommend to ask your appraiser if there are extra things that should be done before they come. In general the appraiser is required to look for a safe dwelling. Some items include missing hand rails, trip hazards (interior & exterior), broken windows, pealing paint, mold, does exterior grade shed water away form foundation .