Make the appraisal process a little smoother for your clients. This handy checklist created by instructor Candy Cooke includes information you may want to share with appraisers.
- Complete executed contract including all addenda and amendments. The lender does not always send all documents to the appraiser.
- Copy of previous survey. The T-47 Residential Real Property Affidavit (TAR 1907) does not have to be included. The survey provides lots of information for the appraiser including flood hazard area and encroachments.
- List of improvements provided by the homeowner.
- Information about multiple offers. It is up to the sellers how much they want to disclose. They can give copies of all offers or just bits and pieces.
- Blueprints. If the property is unique, large, or difficult to measure, plans will help the appraiser.
- A list of recent sales and listings in the neighborhood that you have deemed similar.
- Information about any off-market sales or pocket listings.
- Information about comparable properties that may have issues. If you know of something that is
wrong or not disclosed in the MLS, write it on the comp and provide to the appraiser.
- Your CMA.
- Information about what other properties the buyer viewed. This takes cooperation with the listing and buyer agents.
- Information about the neighborhood. This can be a link to neighborhood info.