8 Tips that will help homeowners prepare for an appraisal:
- Housekeeping: Always make sure that your home is clean and presentable for the appraisal inspection. While the appraiser may be able to ignore homes that are untidy, your lender may not do the same. Underwriters and desk reviewers look at interior and exterior pictures to see what condition your property is in. Make sure the floors are clear of any mess, the beds are neat, and the bathrooms are clean.
- Easy Access: An appraiser must inspect every room inside your home as well as access to Attic and CrawlSpace or the appraisal will be incomplete and thus he or she will have to make a second trip out to the house at an additional cost. This usually will only take a few minutes.
- Renovations: Make sure that any work that is being done (such as adding rooms, wiring, plumbing, etc.) is complete by the time of the appraisal inspection. This will delay the appraisal and may even cause the value of your home to drop. Let your appraiser know of any work in progress while setting the appointment. Have a list of types and dates, and all pertaining documents, permits, etc on hand. Tell the Appraiser.
- Minor Repairs: It would be a good idea to make some minor repairs prior to the appraisal inspection. Things such as a rusty faucet, cracked window, or broken light bulb may be hard for some appraisers to ignore. A lack of adequate lighting may even hinder the ability to take interior pictures of your home.
- List of Improvements: It is a good idea to present your appraiser with a list of improvements that you have done to the property. Be sure to include everything. Don’t leave out anything. Let your appraiser look through all the improvements and he or she will allocate the proper value to those improvements. Don’t belittle any improvements that you have done to the property.
- Documentation: Have any needed documents ready for when your appraiser shows up. If you have made any additions or improvements to your home that may have necessitated city permits. If you pay Homeowner’s Association (HOA), have a statement ready. When making the appointment, ask the appraiser what documents you need to have ready, if any.
- Be there on time: Appraisers are always on the go so it is important that you are available during the time for which you scheduled the appraisal. The next available appointment may not be for days, plus with today’s gas prices being what they are, who knows how much the appraiser may charge you for gas surcharge.
Article Source: http://EzineArticles.com/984514
8) My Notes:
1) If any Bedroom (bedrooms only) has Security Bars on the windows, at least one of the windows must have an emergency exit or no bars prior to the inspection.
2) If you have independent bedrooms “Efficiencies” not directly connected to the interior of the home, an entrance must be opened prior to the inspection.
3) Any Repairs required by the Appraiser must be completed prior to a 2nd inspection.
If it does not have, a 2nd inspection will be required to certify that repairs have been done, or that the bars or entrance conditions have been completed, at an additional cost and delay.
Request a free, confidential Estimate of the Funds you could expect from a Reverse Mortgage. I will present you with several alternatives so you can make a well thought out decision. Use the Form provided below to contact me. You can also call or email me at 786-262-6486 or email@example.com
Quick Reverse Mortgage Quote Form