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Updated 8 months ago on . Most recent reply
Will appraisal value be influenced by a few unifinished renovations?
We built a home a while ago and are wanting to get it appraised for a cash-out refinance. We've still been doing some work to it so there are some minor "renos" that are not done and not all the rooms are furnished. Will this be an issue for appraisal? Will it affect the value of the appraisal?
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River Sava
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River Sava
#2 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
Pro Member
#2 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Lender
- USA
Hi Micah,
Depends on the lender / seasoning periods. When did you finish building the home and when are you planning to be done with current renos?
A lot of lenders have a seasoning period of 6 months in order to use appraised value not cost basis. However, some can do as little as 3. Sending you a dm to connect!