Buyers and Seller can be at high stress levels when they really want or need a deal to close. Before a mortgage can be approved for the loan on the house, a home appraisal is needed. The property or unit must be appraised by a certified (or licensed) appraiser* who is competent of completing the task. *(or by a registered trainee or apprentice working for a certified or licensed appraiser)

To relieve any undue stress to homeowners that are selling or refinancing, here are some thoughts for consumers. After reading this you will understand more of the things you can expect from the appraiser that comes to your home. Having this needed information available is a smart way to prepare for the appraiser when they come to inspect the property.

PREPARATION:

• Once your mortgage broker or bank has advised you that the home appraisal is ordered, be ready for a phone call to set the appointment. Answer calls from unknown numbers to avoid phone tag and delays. This may be a good time to make the place presentable. 
• Prepare a brag sheet of any upgrades/renovations since you moved into the house. Type them in order of importance from major renovations and remodeling first with the minor repairs towards the end. Clear printouts are preferred over handwritten notes.
• A copy of the survey of the property (if applicable and available).
• Any recent inspection reports or other reports that may indicate improvements to the property. (termite reports, etc)
• Any recent home appraisal that was done on the property within the past few years.
• Permits of any major renovation or additions. Copies of permits are even better, allowing the appraiser to focus on the property while they are on site and review the permits later.
• Copies of tax bills, title policy (with legal description of the property)
• Phone number of Condo or Home owner's association.
• Amounts due to any Homeowners Associations or Maintenance Companies  (ex. 440 per Quarter, $180 / month)
• Be sure that paymenthas been done or that your check is ready, willing and able. A bounced check may delay delivery of the report to your mortgage broker or banker.
• Make sure all rooms, bathrooms and areas of the home are accessible. The attic is normally not inspected in Florida, unless its an FHA loan. A room that is locked will require a second trip, normally incurring a trip fee of anywhere from $75 - $100.
• Peform any needed maintenance. Small items may not seem like much, but give off an impression of lack of maintenance. Broken windows, runny toilets, leaking sinks are not desired for your inspection time. This may be a good time to make the place presentable. 

INSPECTION (expectations):

• Normally your appraiser should be on time. If for some reason they are delayed, wait as long as you can to avoid a rescheduling.
• Upon arrival, your appraiser will be taking lots of photos, and a quick knock at the door is to let you know they are there and going to measure the perimeter of the house. This is a good time to lock the dog to a tree or make other arrangements. If it's a condo, then invite them in and allow them to start taking notes and measuring, to get a feel for the unit.
• After measuring and photographing the exterior of the house or the inside of the condo, you will be ready for the basic questions about your unit and the complex or association dues.
• The appraiser will be taking photographs of the inside of your home, including bathrooms and bedrooms.
• Any information you have prepared should be given to your appraiser at this time, to ensure an accurate home appraisal.
• Offer your phone number, in case the appraiser needs to ask you any questions that may later arise.

WAIT, BE PATIENT:

• The wheels are in motion, so let them do their job. It normally takes 48 hours after the inspection time for your broker to get the report. Any difficulties in the report or gathering and confirming of data may delay the final re port aday or so.
• The more you call you broker to inquire, the more they will call the appraiser, the harder it is to work within this initial 48-72 hour time frame. Sometime more research and verification will get you a higher value.
• Understand that the appraiser cannot tell you the value of the house, give you a range of the value OR discuss any other matters of the homes perceived value. Appraisers are bound to confidentiality by USPAP law, to discuss details of the assignment with only the bank or mortgage broker.
• Request your copy of the report from your mortgage broker. The appraiser cannot send you the report. Again, USPAP law states that appraisers can only deliver the report to the client (lender) not the borrower (homeowner or seller).

Often times there is a misconception about how appraisers arrive at the value of your home appraisal. They normally do not form a final estimate of value until one or two of the approaches to valuation are developed or completed. So don't ask at the inspection, because even IF they knew, legally they can't tell you anything about value! A real estate appraisal considers many different factors and details of other sales in your area, so a value is not known just from inspecting the property. Comparables must be viewed, data of nearby sales must also be confirmed.. so dont ask!

Remember, the client is the person or company that orders the real estate appraisal. The borrower (or buyer) pays for the real estate appraisal, but the report can only be delivered to the client, who is the lender/broker. The borrower can request the report from the lender / broker. 

USPAP* is written, published, updated and ammened by the Appraisal standards board (ASB).  *"USPAP represents the generally accepted and recognized standards of appraisal practice in the United States."

Appraisers must comply with USPAP's rules and guidelines regarding reporting, record keeping, confidentiality, ethics, and other standards.. The preamble to USPAP covers these guidelines.

Consumer & Brokers: Advisory Opinions are not a part of USPAP, but are to illustrate examples of how to apply USPAP to certain conditions or sample situations. Here are two samples on: (for homeowners)Inspection of the subject property (AO2), (for brokers) re-assigning reports (AO26). 

More information can be found at: Appraisal Foundation's website.