How to Prepare for a Real Estate Appraisal

Real estate appraisals have become an important part of property transactions. Selling and refinancing your house at a fair value depends on getting an accurate appraisal of what the property in question is worth. Preparing the property for an appraisal will guarantee your property receives the most accurate value.

Things You'll Need

• Property survey
• Certificates of occupancy
• Title documents

Instructions

1. Locate all of the real estate's relevant titles. This will include the deed to the property, as well as the property survey and any certificates of occupancy. Also prepare to provide the appraiser with any of the agreements the property has with the surrounding properties, such as agreements for a driveway, shared rights for a dock or waterfront property and any property restrictions such as a conservation deed.

2. Provide a list of collective expenses and upkeep fees if the property is a condominium or under the ownership of a co-op or homeowners association. Also provide the prospectus or a duplicate of it for the appraiser.

3. Complete any repairs that need to be made to the property. Replace broken windows and torn screens, patch up holes in walls and make sure the plumbing and heating are in working order. The property should also be cleaned, as a building suffering from dust and clutter will be less favorable to appraisers than a clean building.

4. Retain copies of home improvement bills, and prepare to provide that information to the appraiser, especially improvements which may not be obvious. This applies to such enhancements as green building materials, specialty windows and extra or specialty insulation.

5. Get the property and building inspected. Among the preparation inspections that should be done are getting the property checked for termites and other pests, checking the septic system and inspecting the building's water supply.

6. Find the previous year's tax receipts and provide them to the appraiser. Be sure to include any exemptions received.

7. Remove or lock up all pets on the property, especially watchdogs or other large animals. While they will not overtly detract from the value of your appraisal, they may scare off the appraiser from inspecting areas of the property and force her to be much less thorough than she otherwise might be.

8. Prepare a list of all the personal property in the building, if the building is to be put up for sale. Include all major appliances you plan to take, including equipment related to property fixtures such as fireplaces and swimming pools.

Tips & Warnings

• Usually, you do not have to accompany the real estate appraiser as she inspects your house. However, if you do not decide to accompany a real estate appraiser while she inspects the property, you should remain available. An appraiser will very likely have questions about the property and may need assistance to enter areas such as cellars, crawl spaces and attics.