All Forum Posts by: Benson Gee

It is my understanding that yes, they do factor in cosmetic condition to a degree. Particularly recent upgrades to the structure, such as a brand new roof, etc. And they seek out like features: If your property is a 3/2 with an attached garage, they will favor comps that have attached garages over those that do not.

However two appraisers can give very different appraisals. That's the BRRRR wildcard. You can't pick your appraiser. Last year we did a refi on a duplex which had been tenanted for ten straight years. Structurally it was fine, but a tenant left one side cosmetically destroyed. During the refi process we had to leave one bank and start over with a new bank. This gave us two separate appraisals. First was for $356k, second was $330k. Same trashed property. The difference was - I believe - the first appraiser focused on the structure. The second guy looked at the mess and said, "Ew."

Others may have more authoritative knowledge of appraisers. Mine is anecdotal.