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Updated over 3 years ago, 08/19/2021

User Stats

14
Posts
2
Votes
Michael Nguyen
  • Philadelphia, PA
2
Votes |
14
Posts

Higher appraisal tips

Michael Nguyen
  • Philadelphia, PA
Posted

I bought a duplex in Drexel Hill, PA on a hard money loan. I did the reno, and now in the middle of refinancing. The appraisal came at $35K less than my estimate. I made an appeal, but I'm still shy $22K. I elected to get a new loan company with a different appraiser.

I'm hoping to be more prepared this time around. Attend in-person and provide the appraiser a list of repairs I did to the property, before/after pics, and a few strong comps to back my research. I understand I'm not allowed to directly influence the appraiser by saying anything like, "I think this house is worth this much." Are there other strategies I can implement to swing the appraisal value in my favor while treading lightly?

Thank you in advanced,

Michael

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