Gearing up for an appraisal from James M. Hanson Associates, Inc.

Did you know you, as a borrower, are entitled to receive a copy of the completed appraisal report from the lender? Just give us a call at 609-884-9185 if you have any questions about the appraisal process.

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

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

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

  • Information on any written private easements, such as a shared driveway with a neighbor.

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

  • Title policy that lists encroachments or easements.

  • Most recent real estate tax bill and or legal description of the property.

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

  • Brag sheet that lists major home improvements and upgrades, the amount of their purchase and date of their installation (for example, the addition of energy efficiency upgrades or roof repairs) and permit confirmation (if available).

  • Locate copies of the current listing agreement, broker's data sheet and, if the sale is "pending", the purchase agreement.

  • Information on "Homeowners Associations" or condominium covenants and fees.

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

When the appraiser has arrived, you do not need to escort them along on the entire site inspection, but can be helpful be present to answer questions about your property and be willing to point out any home improvements.

Here are a few other helpful tips:

  • Accessibility: Appraisers are very meticulous 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 will look past most clutter, but they're human beings too! A good impact can mean a better home value.

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

  • FHA and VA Inspection Items: If your borrower is applying for either an FHA or VA loan, we strongly recommend to ask your appraiser if there are extra things that should be done before they arrive. Some items they may recommend might be: putting smoke detectors on every floor of the home and especially near bedrooms, 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.