Grady Corbin. .. I hope,,,, I think you'll find this useful.
EVERYBODY knows. . .. that everything hinges on/around the mighty opinion of the appraisers!!!!Right?
Listen up. . .'
I'll try not to be too longwinded. .but this is important.
On the most recent appraisal my banker/financier ordered for a cashout refi following my rehab on a property, the tired, weary(her ninth of the day)appraiser showed up, did her thing, accepted my carefully prepared list of improvements/upgrades and sat down for tea at my invitation. I know her; she's done about 8 or 9 for us. ..
Well, we chatted about property values, price per sq.foot, and everything else; I asked and she allowed me to pick her brain about the aforementioned..
We drank tea, chatted and bid farewell.
One week later she returned to my banker the report, at about 10K below what I anticpated.. When I got home with the report, I sat down with a fine tooth comb and discovered several mistakes. . crucial ones.
I phoned her, she apologized and offered to correct it with the banker. . she felt bad. . .I felt elated!!!!!! The banker adjusted according and I got several thou. .. above what she orginially reported. . HEY investors, go over those appraisals; I have a feeling that most of the time we just accept what is reported.. . .my banker was shocked. .. and impressed. . .
keep on keeping on.