Preparing for an appraisal from Appraisal Trust Company, LLC

Legally, an appraiser must be licensed by the state to perform appraisals prepared for federally related transactions. Kevin Kral is a Certified Residential Appraiser looking forward to help you at 865-776-5482 if you have any questions about the appraisal process.

To make your appraisal process go as smoothly 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 readily available).

  • Any records on the purchase of the property for the last three years.

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

  • List of personal property to be sold with the building.

  • Title policy that lists 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).

  • Find copies of the current listing agreement, broker's data sheet and, in the event of a pending sale.

  • Any "Homeowners Associations" agreements or, if applicable, condo covenants or 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 recommendations:

  • Accessibility: Appraisers are very detailed in their inspections. 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 will look past most clutter, but they're human beings too! A good impression can mean a better value for your home.

  • Maintenance: We often suggest repairing minor 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 items they may recommend might be: installing a banister on all stairways, ensuring there are electrical receptacles in every room and that each outlet functions, eliminating pull-chain lights in areas other than the basement or attic.