Friday, June 29, 2012

My Experience with an Appraiser

Appraiser was professional and polite. No comments were given on the condition of the houses, didn't bother to ask her any questions, just wanted her to do her job with no interruptions or distractions. She went through every room, took pictures and that's pretty much it. She didn't touch anything or asked any questions.

After 30 minutes, she said she was done and to enjoy our weekend! I can't believe I was worried all week for this... I might be speaking too soon considering I don't know what her report is going to say, but it's all in God's hands. I guess what was worrying me is that I kept reading that appraisers act like they are inspectors and that they check every inch of your property and write you up for anything that is wrong. It didn't seem like that at all! She didn't act like an inspector.

My realtor says that it will take about a week for the appraisal report to come in. I'm actually excited to see how much this property will be valued at. Because I am doing a 203k rehab loan, two numbers will be presented, the current value of my property as-is, and the second number being the value of the property after the items written in the contractors bid.

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