HELOC approved...but....now full Appraisal

[Daria B.]

Hi,

My HELOC was approved (yeah!) and after the "drive-by" appraisal I raised some questions to the lender when I read how the appraiser came to the value conclusion.

There are several comps that were used and the most important ones for narrowing down to compare to the subject property, had described as "superior" to the subject because of extensive renovations.

I asked the lender how was it that this compares to my property when all the appraiser did was "drive-by" and come to a conclusion that other properties were "superior" to mine because they considered the inside as well for the comps.

So now they are ordering a full appraisal after I noted all the work that has been done in the past 10 years. All new systems and baths and more recently HVAC and roof. These are items that I saw noted on the comps.

My question, now that the appraiser is coming inside, should I be noting what upgrades have been done? The lender helping me through all this said to mention what I emailed to her, which was a list of upgraded items. When I questioned the appraisal and said that if it was to be fair then my upgrades should be taken into account as well.

I have always been on the side of receiving an appraisal because I was the buyer but not on this side as the person securing a line of credit whose property is the subject.

Should I just quickly mention the upgrades or just not say anything at all.

I mean it "is" supposed to be that the appraiser is not supposed to be swayed in any way.

I just want my upgrades to be included that would be an apples-2-apples comparison. I didn't think it fair to use comps that they sighted outside and inside when mine was just outside.

Thanks