What Appraisers Look For (2)

BASEMENT

Types of walls and floors (hard surface, dirt, or concrete).
Type of sub floor.
Condition of floor joists…is there dry rot?
Type of wiring-fuses or circuit breakers? 220 or 115 volts?-Min. of 60 amps required.
Type of water heater, size, and condition.
Type of water lines: copper, galvanized, plastic.
Type of heating system and condition.
Type of air conditioning, if any.
Evidence of water leaking into basement; check walls for dampness. Is there a floor drain or sump pump?
Is there an outside entrance?
Does property have a well; is it outside the perimeter of the house, what type of well dug, drilled etc?
Type of pump and how far away from the septic system, if any?
If the property is served by septic system, how large is the tank? Type of tank? How many leech lines are there and size? When was it last cleaned? Check for asbestos.

MISCELLANEOUS

Appraiser will need a copy of last survey and a copy of the legal description. If on a well and/or septic most lenders require a water purity test and septic test. Appraisers will use three comps of recent sales within the last 6 months, is available, of similar size properties in same or like neighborhoods. Appraiser will look at the overall marketability of this house for resale, under normal market