Gearing up for an appraisal from Lone Star Appraisals

Did you know you, as a borrower, are entitled to receive a copy of the final appraisal report from the lender? Just give us a call at 4324661084 if you have any questions about the appraisal process.

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

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

  • 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 lists encroachments or easements.

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

  • Home inspection reports, or other recent reports for termites, EIFS (synthetic stucco) wall systems, septic systems and your well.

  • A list of any 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 when the property is being appraised "as complete".

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

Here are a few other tips:

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

  • Housekeeping: Appraisers see hundreds of homes a year and are no strangers to clutter, but they're human beings too! A good impact can mean a better home value.

  • Maintenance: We generally suggest fixing minor things like leaky faucets, missing door handles and trim.

  • FHA and VA Inspection Items: If your borrower is trying to apply for either an FHA or VA loan, we strongly recommend to ask your appraiser if there are specific things that should be done before they come. Some things they may recommend might be: installing handrails on all stairways, removing and touching up where there's paint peeling, eliminating pull-chain lights in areas other than the basement or attic.