Question on new roof during refinance

[Lei Zhao]

We bought a property this June in cash and are thinking about refinancing now to pull some money out. It's a duplex with new roof installed last year. However, I don't have the documentation for the new roof. I wonder during the refinance do I need to provide any documentation or this information could be found somewhere else by the apprasier? Thanks!

[Michael Mullins]

When ever I do a refi, I make sure I have a binder of all the items I've purchased, and labor costs inside that binder. It's also helpful to have a cost break down and a nice little total amount spent on the full rehab or any maintenance / repairs I did to the house. Also make sure you give the appraiser lots of person space when they are doing there job. But at the end make some small talk with them. And then at the end just say I HAPPEN TO HAVE A COPY of all the repairs I've made, and had it over to them. Ask them WOULD YOU LIKE A COPY OF IT, it might help. People will most likely accept what ever you hand them. 

It's amazing that those appraisers always come in on the high amount I need for refi to work and for me to get as much out of the property as I can. Every dollar amount of that 75%, is needed to pay back the money you spent. 

Remember be kind, make there jobs as easy as you can. 

Hopes this helps.