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Updated over 7 years ago,
Details to maximize appraisals
The husband and I are looking at the market and getting ready for our first flip deal. We intend to get a HELOC on our primary residence (paid off) to mostly or completely finance the first deal.
My questions are, what factors are the appraisers looking at, how are the different factors weighed, and what are the top things I can do to max out my appraisal value?
Initially, of course, I will be looking at appraisal value on our current home. I already anticipate issues, because we live very rurally, and comps will be few and far between geographically, with huge variation in the properties they can find.
Also, how much of a factor will current employment be in a heloc? My husband is on a,layoff right now, receiving unemployment income.
Thanks to everyone in the bp community! The blog and forum are invaluable to us!
Tracey in Oregon