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TERMINOLOGY
Once you have selected an appraiser be prepared to answer questions and provide requested information such as:
- What is the purpose of the appraisal?
- When is the required completion date of the appraisal?
- Is the property listed for sale and if so for how much and with whom?
- Is there a mortgage? If so with whom when was it placed for how much type of mortgage [FHA VA etc.] interest rate and are there any other types of financing.
- What personal property such as appliances are included ?
- If it is an income producing property a breakdown of income and expenses for the last year or two and a copy of leases.
- A copy of deed survey purchase agreement or other pertinent papers pertaining to the property.
- A copy of current real estate tax bill statement of special assessments balance owing and on what [sewer water etc.].
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