Preparing for an appraisal from Merit Appraisal Service

	To appraise a property, an appraiser is required to be licensed by the state when the transaction involves any federal financial regulatory agency such as Freddie Mac, Office of Thrift Supervision, and the like. Just give us a call at 573-204-3071 if you have any questions about the appraisal process.

To speed up the appraisal process, it's beneficial to have these documents ready for the appraiser:

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

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

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

• A list of any personal property that will be left behind and sold with the home, such as an oven, or a washer and dryer.

• Title policy that describes 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 wells.

• A list of any major home improvements and enhancements, 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".

• 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 accompany him or her along on the entire site inspection, but generally you'll want to be present to answer questions about your property and be willing to point out any home improvements.

Here are some other helpful recommendations:

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

• Housekeeping: Appraisers see quite a few of homes a year and are no strangers to clutter, but they're human beings too! A good impression can translate into a higher value for your home.

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

• FHA and VA Inspection Items: In the case of your borrower trying to apply 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 come. Some items they may recommend might be: installing a banister on all stairways, removing and repainting where there's paint peeling, eliminating pull-chain lights in areas other than the basement or attic.