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Fannie Mae asks appraisers to identify any physical deficiencies or adverse conditions that might affect the livability, soundness or structural integrity of a property. To help the appraisal go as smoothly as possible we generally recommend you take the following actions and prepare the listed documents, if available, for the appraiser, prior to inspection. Some items mentioned below, if present, can cause the Lender's Underwriter to come back and require the Owner/Seller to repair first, and possibly have the Appraiser come back out afterwards to verify repairs are completed, which causes the homeowner unexpected delays and even additional costs for re-inspection.
Checklist:
- Unlock all padlocks on the property.
- Keep a leash on pets or remove them from the property.
- Make sure all areas of the home are accessible.
- Remove any snow that will prevent access to the property.
- Verify lock box combination and access keys are accessible, and do not lock the storm door from the inside.
- Remove Cars, locks, furniture, clothing, boxes, or anything that may prevent entry to the attic, crawl spaces, furnace, and water heater. (FHA/USDA)
- Smoke and Carbon Monoxide Detectors, if required by law, be installed and working properly.
- Replace light bulbs so rooms have adequate lighting.
- Outbuildings such as garages, sheds, pool houses, etc. need to be accessible.
- Confirm heating and air conditioning are operational. (FHA/USDA)
- Address any visible exposed wiring and install faceplate covers if missing.
- Address any exposed wood or peeling paint by Scrape/Prime/Painting prior to inspection.
- Address any rotted exterior wood trim by replacing and painting prior to inspection.
- If your electrical breaker panel has open slots from missing breakers, cover with plastic snap-in cover.
- Check Hot Water Tank to verify it has a vertical drain pipe attached to the Pressure Relief Valve.
- Obvious Roof Damage, ie missing shingles, might later require a professional roof inspection.
- Obvious foundation/wall cracking might later require a structural engineer's report.
- Obvious Termite activity observed, old or new, might later require a pest inspection.
- Obvious Mold, aka “an unknown blackish-greenish substance”. might later require a Professional Mold Inspection.
- A survey or plot map of the property and building (if readily available).
- Information on any written private agreements, such as a shared driveway with a neighbor.
- Title policy document that lists any encroachments or easements.
- Any inspection reports, or other recent reports for Termites, Roof, Structural, Mold/Asbestos, Septic system and your well.
- A list of any major home improvements and enhancements (for example, the replacement of HVAC, Hot water tank, windows, flooring or roof repairs). Please include the purchase and installation date, along with permit confirmation if available.
- If you have had any additions added to your home, include a Permit copy.
