Waiting on appraisal......fingers crossed

[Evan Bell]

We have an appraisal on our triplex scheduled for today between 10-2. Anxiously awaiting the report as it will determine HELOC amount. The HELOC will be used to find future investments. This is the first appraisal we are getting as investors on one of our properties - hoping they get easier the more of them we do. I have to admit I’m a little nervous....

[Bob Mills]

If the appraisal is not at the value you need, and you can come up with a valid case, have your banker challenge the appraisal. You can look up and provide alternate comps and feed them with a brief explanation to you banker who can challenge the valuation on behalf of the bank, who is the client of the appraiser. I did this in my personal recently when the appraiser dropped the ball and it came in low and I got the value up to where it needed to be.