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Updated about 5 years ago on . Most recent reply

User Stats

128
Posts
54
Votes
Matt Everling
  • Rental Property Investor
  • Temecula, CA
54
Votes |
128
Posts

Ways to guarantee a high appraisal for BRRRR refi?

Matt Everling
  • Rental Property Investor
  • Temecula, CA
Posted

I'm rubbing the magic lamp that is the collective BP genius in the hopes of finding a way to "guarantee" a high enough ARV appraisal to pull my cash out in a 75% LTV BRRRR refi...

Most Popular Reply

Account Closed
  • Real Estate Agent
  • Cleveland, OH
295
Votes |
359
Posts
Account Closed
  • Real Estate Agent
  • Cleveland, OH
Replied

Do not pay the appraiser to get on their good side that is illegal lol. Appraised values can typically vary from 10-15%. It is best to help yourself by providing a full list of improvements completed on the property and you are also able to provide comps that you feel best suit your property (no guarantee they'll use them but many appraisers don't mind at least taking a look). Be sure there is no damage and like @Justin Fox said, if the neighborhood can't support your improvements then don't do it. There is really no magic to it...anything beyond being prepared and having your house completed/in order is probably undue influence as the appraiser is supposed to act independently and all data must be supported by market trends and comps.

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