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Updated almost 9 years ago,

User Stats

28
Posts
11
Votes
Lyuba Barrington
  • REA and accountant (CPA)
  • Omaha, NE
11
Votes |
28
Posts

How to refi rental property using tax value in lieu of appraisal

Lyuba Barrington
  • REA and accountant (CPA)
  • Omaha, NE
Posted

One of my clients is in a situation where he wants to refi his rental duplex (60% loan to tax value, and probably 50% using market value). However he is having a hard time with one of the renters - when he tries to arrange for an appraiser to come it.

He has a clause in the rental agreement that the (non-cooperating) renter is obligated to let in prospective tenants and repair people, but not any other provisions. He is a perfect renter otherwise, pays like a clockwork etc, and the annual agreement was just renewed.

So the first question is how to enforce the entry for appraisal, without going to court etc.

And the second question - what is the best place to find a (conventional) lender who will take tax value in lieu of appraisal...

Any comments are appreciated.

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