Foster Appraisal Services, LLC's appraisal checklist

By law, the borrower is are entitled to obtain a copy of the final appraisal report from the lender. Just give us a call at (207) 310-8716 if you have any questions about the appraisal process.

To speed the appraisal process along as quickly as possible we generally recommend to have these documents, if available, ready for the appraiser:

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

  • Information on the latest purchase of the property in the last three years.

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

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

  • Any documents, such as a title policy with information on encroachments or easements encroachments or easements.

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

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

  • 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).

  • 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 "proposed" improvements when the property is being appraised "as complete".

When the appraiser arrives, you do not need to accompany him or her along on the entire site inspection, but generally you'll want to be available to answer questions about your property and identify any home improvements.

Here are some other recommendations:

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

  • Housekeeping: Appraisers see a lot of homes a year and aren't surprised at seeing a bit of clutter, but they're human beings too! A good impression can translate into a better home value.

  • Maintenance: We generally 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, we strongly recommend to ask your appraiser if there are additional things that should be done before they arrive. Some things they may recommend might be: installing smoke detectors on every floor of the home and especially near bedrooms, ensuring there are electrical receptacles in every room (note: GFI outlets are no longer required) and that each outlet works, eliminating pull-chain lights in areas other than the basement or attic.