How to help appraiser include value added through rehab?

[Page Weil]

Like many people here, I live in constant fear of an appraiser coming back with a crazy low number for any rental property refinance. I recently did about $55k of work on a property with a $50k purchase price so I am into the property for ~$105k. Our repairs included a new roof for a 2 car garage, new bathrooms, kitchen, drywall, flooring, electrical and more. The house was a DUMP before.

I want to make sure whoever comes to inspect the house takes into account what we did to make it a more livable space. I understand that there is a fine line to walk here since I want a higher value but appraisers try very hard to be objective. 

I have provided my loan officer with all pre and post rehab pictures, as well as our line-by-line scope of work and a signed contract with the rehab company for doing that amount of work. 

Does anyone here have any strategies for helping an appraiser see the value we have added?

[Jeff Copeland]

In addition to providing that info to your loan officer (who may or may not pass it on to the appraiser), leave a folder in the house labeled "Appraiser" (or with his/her name on it if you know who it is) for the appraiser to pick up. 

The key is to be tactful; Don't be pushy or talk about your opinion of the value or what it "needs to be". Appraiser's hate that. 

But what appraisers love is data points. There is often so much the appraiser might never know unless somebody tells them.

So tell them all about the rehab, provide pictures, invoices, etc. It can only help them develop a more informed opinion of value, and most appraisers appreciate the additional info, if it is presented correctly. 

It sounds like you may be doing a refi. But if the home is for sale, tell them about the offers you received. The appraiser normally only sees the final, signed purchase contract. Multiple offers are obviously a strong indicator of the market's response to a listing, but the only way the appraiser would ever know "We had six offers on this property after only 9 days on market. We solicited highest and best from all offerors, and selected this particular offer because of the strength of the buyer's financing and the low seller concessions" is if somebody tells them!

The National Association of REALTORS specifically recommends:

"Prepare an “Appraiser’s Package” in advance and have it available for the
appraiser at the property. The package could include plats, surveys, deeds,
covenants, HOA documents, floor plans, specifications, inspection reports,
neighborhood details, recent similar-quality comparables, detailed list and dates of
upgrades, remodels and costs, and energy efficient green features. Meet the appraiser
at the property and answer any questions an appraiser might have about the property
or neighborhood. Allow the appraiser the necessary space and time to complete the
inspection."

There is also a great e-book called "The Agent's Guide to the Appraisal Process" by Chris Dolland from a company called AskAppraiser.com - I have a copy, but I couldn't tell you how to find it online for purchase (I tried to find it and could not...I think they are re-vamping their website and e-commerce cart). 

[Update use the URL above plus /shop to find the e-book. I have no affiliation to the site or the book whatsoever, and don't want to post a link]