Thank You BP!

[Tom Camarda]

Just wanted to share a little victory that I owe to BP and specifically to the info gleaned from Podcast (#7) with Ryan Lundquist on appraisals: 

We are currently applying for a HELOC on our home here in Los Angeles. I know that the house and neighborhood is unique so I requested a WALK THROUGH appraisal, not a drive by or even a 'desktop' appraisal from the bank. (We live in the hills and the property requires that you get out of your car to properly view it). When our appraiser DID call to schedule, I politely asked where he was coming from. His reply sent alarm bells. He was coming from over an hour away in Orange County! I knew this was bad news and even contacted Ryan about it. He expressed concern. I called the bank back and explained why I would like to have someone familiar with the area appraise the house. They hemmed and hawed but ultimately gave in.

2 weeks later we had someone from the area come to appraise it. The result - 100K OVER the banks desktop appraisal.

YES!

It was an extra 3 weeks of waiting but man, was it worth it. 

Now, time to invest :)

Cheers,

Tom C