Does anyone have any templates for Appraisal Packets?

Question

I am going through my first BRRRR and have completed the renovation and am looking to refinance now. I had professional pictures done this weekend and have an appraiser coming in on Thursday. I've heard it's a good idea to leave your own consolidated research for the appraiser to see while touring the property. Does anyone have any good templates that they've used in the past? I'd imagine it would include:

-- Improvements done to the property, by Room
-- Comps and Justifications behind them
-- Before/After pictures?
-- Anything else?

-- Improvements done to the property, by Room-- Comps and Justifications behind them-- Before/After pictures?-- Anything else?

Ron Brady · Answer

My wife and I use this template: https://docs.google.com/docume...

I've left it mostly filled in so that you can see the detail.

I also print at CVS 3-5 photos (at least 5x7) in color with a before and after photo on each print. Thus I have 3-5 befores and 3-5 afters. I print them at CVS on the traditional photo backing as a way to stand out. We put the document and these in an envelope. We tell the appraiser that we have some information on the home and its renovations and we ask him/her if he/she would like to have it. No one has ever told us no.

We arrive at the house at least 30 minutes before the appraiser to make sure everything is clean and all the lights are on, the window shades open fully, everything smells nice, all toilets are flushed and closed, not dog waste anywhere. No personally identifying photos or art.

Finally, I leave 20 min before the schedule time--most appraisers arrive 15 min before the schedule time--and we let my wife do all the talking. I brief her beforehand to make her aware of everything. We do this because she is very light-skinned and thus if the appraiser is biased, they see her and not me. She dresses relatively nicely and is charming, but stays out of the appraisers way.

Essentially, we leave very little to chance and we set ourselves up for the best possible reasonable price.

Best wishes to you!

Eric Goldman · Answer

@Ron Brady hit the nail on the head. make sure you pick up the dog poop, fix that hole in the wall, and set yourself up for success. don't just hope and pray if its a refi.

Tim Herman · Answer

@Rob Carmody Is this the lenders appraiser or an independent appraisal. Most lenders will not take an appraisal that they haven't ordered. So you may have two appraisal costs to refinance.

Does anyone have any templates for Appraisal Packets?

Does anyone have any templates for Appraisal Packets?

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