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Updated almost 10 years ago, 02/18/2015
Appraisers in the Puget Sound area
So I'm in a bit of a pickle!
I've just completed a total remodel of a 4plex in Edgewood, 4400sqft, 8bds/6ba(4 1/2 baths), 4 garages, on 0.4acres, ROI puts the value at $800K.
I owe $430K my appraisal came back at $565K. I have personally put $70K and 10 months of time and money into the investment. If I had hired contractors to do all of the work this number could have easily been $200K. So I was expecting a valuation of at least $630K.
The market is dry of multiplexes and no properties are near the quality of my multi. There is a similar comp for sale listed at $790K, not remodeled but on a 0.6acre lot w/I 5mi of the property.
Can anyone suggest an appraiser in the Pierce/so king county area that is generous with their valuations? And/Or a loan originator that allows 80% equity pull.
Thank you for reading and any helpful suggestions you may have.