Frequently Asked Questions
DO WE GET A COPY OF THE REPORT?
In most cases, after the report is complete, it is turned in and goes through a reviewing process. After underwriting approves the report, you will receive a copy of the report from your lender. We are not able to provide any copies unless the client/lender provides the appraiser with additional intended users (being a homeowner does not make you an intended user, unless stated otherwise by the client/lender). This is a regulation of USPAP.
CAN YOU CALL ME WITH THE VALUE OR DO I HAVE TO WAIT FOR THE REPORT?
Under the Code of Ethics in the Uniform Standards of Professional Appraisal Practice, the appraiser is not able to disclose any information, including value, unless it is the client/lender, persons authorized by the client, government agencies and/or third parties authorized by due process law. Although you may be the homeowner, you may not be the client, the lender is.
ANYTHING WE NEED TO DO BEFORE THE APPRAISER COMES OUT?
Are you asking us if you need to do a deep clean before we come? Not at all! We are in homes all day long and understand we can be invasive at times digging through your home. Do not mind us, we will be taking notes and photos of every room, but they are confidential and are only put in the file. If you have done any significant updates, it is always helpful to provide a list as well as estimated costs. Also, if you are in the middle of a project please let us know as that can impact the appraisal process.
WHY DOES THE REPORT SHOW MY HOUSE AS HALF THE SIZE?
For single family homes, townhomes and/or condominiums, the Gross Living Area and basement square footage are counted separately. Gross Living Area is square footage that is above grade-- all four walls must be above grade in order to be counted as GLA. Because of this, room counts are broken up as well. You may have six bedrooms and three bathrooms throughout, but if three of the bedrooms and a bathroom are downstairs, it would be recorded in an appraisal as a three bedroom, two bathroom dwelling.
WHAT EXACTLY IS THE APPRAISER LOOKING FOR?
Upon arrival, the appraiser will walk the perimeter of the dwelling and use exterior dimensions to determine the square footage. The appraiser will note any obsolescences, deferred maintenance and/or other characteristics. During the interior inspection, the appraiser will analyze the overall quality, condition, effective age, wear/tear and any other characteristics. Interior and exterior photos will be taken, as it is a UAD requirement.
FREQUENT FHA REPAIRS
FHA appraisals require a more in depth inspection in order to comply and meet the needs of the most recent HUD handbook. Because of this, it is very important that all utilities, appliances and the water are on and operational for the inspection. The appraiser will also have to gain access to the attic. If your house is built prior to 1978 it could contain lead-based paint. Make sure to walk the perimeter of the house and paint over any peeling, cracking or chipped paint. If there is any at the time of the appraisal appointment, the appraisal will be made subject to repairs.