How to Prepare for an Appraisal
As you know the appraisal is one of the last necessary factors before a sale or refinance can happen. It allows the property transactions to occur among the buyer, seller, real estate agent and mortgage lender, or is the last step for refinancing.
Before an Appraiser arrives at the subject property, there are a few things you should tell your client. By law, an appraiser must be state licensed to perform appraisals prepared for federally related transactions. Also by law, your client is entitled to receive a copy of the completed appraisal report from you the lender. Since you are my client I cannot release it to them without your expressed written consent. So please let your clients know how they can receive a copy of the appraisal from you.
To facilitate the appraisal process, it's beneficial to have your clients provide these documents to the appraiser at the time of inspection:
Once the appraiser has arrived at the subject property, your clients do not need to accompany him or her along on the entire site inspection, but your client should be available to answer questions about your property and be willing to point out any home improvements.
Here are some other suggestions:
Please note that we all work hard to make sure that the transaction of a sale or refinance goes as smoothly as possible for everyone involved in the transaction. If the property, rooms in the property, or if certain areas of the property can not be accessed this may delay the process and make things more difficult for all. If we all work together, and educate the loan applicant we can make their experience a pleasant one.
Please feel free to comment on this article and state your opinion on how we can make things easier for you..
Thank again for your business,
Jeff.....................