Refinance: To Use or not to Use Brokers Opinion of Value

[Kaylyn T.]

Hey creative forum! I hope you can help me out.

I purchased a duplex for 125k cash and now I want to refinance and get my cash out. At the time a bank I have previously used told me to get a Brokers opinion of value for the current price of 125k, so when the house reappraised it would have equity based on market growth and improvements.

The property originally listed for 151k.

At the time I purchased, rents were 700 and 0, one side was vacant. Now both are rented at 900/850. 

Comps in the area are between 156 - 230k for sale. The solds are slightly lower averaging about 145k.

The new bank is asking if I got a BOP at the time of purchase. I did. Should I use it? Or should I allow them to just go ahead and do an appraisal without it. They will loan up to 20% of appraised value.

Thanks for any responses.