What do I need to do to get ready for an appraisal?
Probably nothing. The appraisal is based on your site, dwelling and everything that is permanently attached to the site and dwelling structure. If you have an incomplete project or deferred maintenance please let the Appraiser know as these items may need to be finished and/or repaired prior to the inspection.
What is the Appraiser looking for?
Generally, the overall quality and condition of the dwelling, consistency or deviations from the subject's competing market, updates and/or renovations, deferred maintenance. Appraisers are not home inspectors and generally do not test mechanical systems and other items unless they appear to be in disrepair or possibly non-functional.
Can I choose my Appraiser?
Generally, no. If you are having an appraisal completed for a financing transaction (such as a new mortgage or refinance) then your lender will select the Appraiser. Lenders have very strict rules regarding how this must be done. If you are having an appraisal completed for a private transaction (such as an estate, divorce, setting a listing price or such) then yes, you will be the one that selects your Appraiser. If in doubt, call us, we're happy to help!
Will I get a copy of the Appraisal?
You can request a copy from your lender. As an Appraiser's client is the lender, we are only allowed to provide a copy of the report to the lender.
Are Appraisers required to be licensed?
Yes, the process is actually quite intensive. There are numerous tested courses, a comprehensive exam, multi-year apprenticeship among other items. For information on current licensing and certification requirements check out www.appraisalfoundation.org