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Updated about 2 years ago on . Most recent reply

User Stats

103
Posts
70
Votes
Masashi Borges-Silva
  • Investor
  • Manhattan, NY
70
Votes |
103
Posts

Who is the appraisal?

Masashi Borges-Silva
  • Investor
  • Manhattan, NY
Posted

Just like the title says, do I need to find my own appraisal after renovation in New York state?

I am not familiar who is running the business. That is, is this a city governmnet’s scope of work or do I contact a private company’s scope? Or is it usually provided by the lender when evaluating VAR?

I am trying to buy a single family primary for short term rental given the market situation, and I want to analyze if long term rental make sense financially if I switch it to a long term rental in New York State. 

Thank you in advanced and happy Halloween!

  • Masashi Borges-Silva
  • Most Popular Reply

    User Stats

    73
    Posts
    69
    Votes
    Dan White
    • Flipper/Rehabber
    • Haymarket
    69
    Votes |
    73
    Posts
    Dan White
    • Flipper/Rehabber
    • Haymarket
    Replied

    The lender will get their appraisal management company to do the appraisal. You can always get an appraisal for informational purposes but like @Carolyn Yates said, the lender will not take it, most likely.

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