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Updated over 7 years ago on . Most recent reply

User Stats

94
Posts
11
Votes
Bruce Clark
  • Investor
  • Mount Pleasant, OH
11
Votes |
94
Posts

Reduce appraisal costs on deal with 3 of the exact same house?

Bruce Clark
  • Investor
  • Mount Pleasant, OH
Posted

I just signed a contract to buy three houses. These houses are literally exactly the same and they are all right next to each other on the same street. Literally, the only difference in these houses is the outside trim. They are all white. One has blue trim; one has red trim; one has black trim. Otherwise, they are the exact same house. 

I am wondering if my bank is going to require 3 separate appraisals and if so, will I be charged the full price as if three different houses were appraised. I really do not want to pay the full price for 3 appraisals, when these houses will clearly appraise for the same exact amount. The only difference in the reports will be changing the address by one number.

Any suggestions, advice, comments, etc.?

  • Bruce Clark
  • Loading replies...