Re: appraisal gone bad

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Posted by Jim V on November 20, 2003 at 20:15:07:

In Reply to: appraisal gone bad posted by Sabrina on November 20, 2003 at 16:00:15:

Sabrina,

The reason for the closet question is that rooms are often identified by function. If a room doesn't have a closet, it's not a bedroom. It might look like one, and be treated as one, but technically, it isn't one. It's similar to the concept that a bathroom isn't a full bathroom unless it has a bathtub.

Generally, there isn't really much of a need to see an appraisal unless there is a problem related to the closing. It's really nothing more than an opinion of value at a given point in time. A year from now, you'd need a new appraisal if you were trying to establish value because things change all the time.

: My bedroom has a closet but I do not have family room. I called the bank and they said the appraiser had a software program problem but everything has been revised and the house does appraise for what I bought it for. I feel like their feeding me a bunch of bull. Next time I will go with my gut and demand the appraisal report before I close. Lesson learned

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: Sabrina,





: The reason for the closet question is that rooms are often identified by function.  If a room doesn't have a closet, it's not a bedroom.  It might look like one, and be treated as one, but technically, it isn't one.  It's similar to the concept that a bathroom isn't a full bathroom unless it has a bathtub.





: Generally, there isn't really much of a need to see an appraisal unless there is a problem related to the closing.  It's really nothing more than an opinion of value at a given point in time.  A year from now, you'd need a new appraisal if you were trying to establish value because things change all the time.





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: : My bedroom has a closet but I do not have family room.  I called the bank and they said the appraiser had a software program problem but everything has been revised and the house does appraise for what I bought it for.  I feel like their feeding me a bunch of bull.  Next time I will go with my gut and demand the appraisal report before I close.  Lesson learned








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