Today I’ll talk about the 11 documents that you should share with an appraiser in order to answer a lot of their questions, help them do their job, and hopefully get a higher appraisal yourself. Here’s what you need to turn into them:
1. A complete and executed contract. Make sure that they have any addenda or other items attached to it as well.
2. A copy of the previous survey. This shows the boundaries of the property and how the house sits on the property.
3. A list of improvements by the homeowner. I encourage you to have the homeowner put approximate prices next to each improvement.
4. Information on multiple offers. I always provide them with a copy of my multiple-offer spreadsheet because then it lets them see where all the offers were coming in from.
5. Blueprints or a floor plan. These are especially important if it’s a unique home.
6. A list of relevant recent sales and listings in the neighborhood. List the pros and cons of those properties.
7. Information about any off-market sales. This is especially important for new homes. If you’re selling a home that’s less than a year old, it might still be applicable.
8. Information about comparable properties that may have issues. Define each issue, and don’t assume the appraiser will catch everything.
9. Your CMA. Show what homes you looked at and how you arrived at your market price.
10. Information about other properties the buyer viewed. Take the nearby properties into consideration.
11. Information about the neighborhood. Is it gated? Is there a community pool? List those kinds of things. You can also give them links to the neighborhood information.
Getting all these items together will make an invaluable appraiser package. If I can ever be of service or answer any questions, give me a call. I look forward to hearing from you.