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Property Appraisal Preparation Checklist
Property Documentation
Gather all legal documents related to the property ownership such as the deed or title.
Compile property tax records and any recent tax assessment notices.
Obtain copies of any existing leases, rental agreements, or other contracts affecting the property.
Physical Property Assessment
Schedule a time for the appraisal inspection that is convenient and ensures full access to the property.
Make sure all areas of the property are clean, well-lit, and accessible to the appraiser.
Prepare a list of recent repairs, updates, and renovations to share with the appraiser.
Market Analysis Preparation
Research recent comparable sales (comps) in the vicinity to understand the local market.
Identify any economic or environmental factors that might impact the property's value.
Compile data on the current market trends, including supply and demand, interest rates, and industry projections.
Financial Information
Prepare a current balance sheet if the property is income-generating, detailing income and expenses.
Provide documentation for any business operations on the property, such as profit and loss statements.
Gather information on any liens, encumbrances, or easements that may affect the property's value.
Additional Considerations
Ensure all permits, zoning documents, and land use documents are current and available.
List any fixtures, fittings, or personal property that will be included in the sale.
Consider preparing a disclosure statement outlining any known issues or defects with the property.
