- Don’t restrict the
appraiser from making an appointment to inspect the property (if your MLS uses
an appointment system, use it. You will be notified of the appraiser’s site
inspection).
- If an appraiser calls, be
responsive and provide as much information as needed. Return the call promptly
even if your listing has closed. (Brokers are the expert source of information
on your listing.)
- Be as descriptive in MLS as
possible about your listing and include as many photos as your MLS system will
allow (include photos of: Front, Rear, Street, and ALL major rooms &
property features).
- Don’t use or reference tax
records as your source of information. Do the proper legwork on your listing; it
builds significant long-term credibility among your peers and local appraisers.
- Distinguish “above-grade”
living area from “below-grade” living area in your MLS, particularly the
quality of
finish in
below-grade living area, attics, bonus rooms, decks, porches, and so on.
- Provide an “Appraisers
Package” in advance, and have it available at the property when the appraiser is
inspecting the property, or meet the appraiser at the property so that you can
answer any questions or inform the appraiser of the unique features of the
property or neighborhood. Make sure you allow the appraiser the space and time
to complete their inspection (Appraisers Package could include plats, surveys,
deeds, covenants, HOA documents, floor plans, specifications, inspection
reports, neighborhood details, recent similar-quality comparables, detailed list
and dates of upgrades and remodels, and energy-efficient green features).
- Provide a fully executed
copy of the purchase contract, with all addenda.
- Explain, to the seller or
buyer that the roll of the appraiser is not to confirm the sales price
but to provide the lender an independent, objective and impartial opinion of the
value of the underlying collateral which the loan would be based on. Provide the
seller or the Buyer a copy of the brochure developed by The Appraisal Foundation
entitled “A Guide to Understanding a Residential Appraisal,” available from NAR
to view or download at www.realtor.org/appraisal/a-guide-to-understanding-a-residential-appraisal.
- Real estate salespeople and
consumers can be present during the appraisal inspection. Make sure all parties
allow the appraiser the space and time to complete their appraisal inspection,
uninterrupted.
- Make sure the property condition (inside and outside) is the best possible for the appraisal inspection, and inform the seller that interior and exterior photos (and measurements) must be taken by the appraiser.
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