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re: How to make sure home appraises? PMI question.
Posted on 5/11/16 at 3:01 pm to PhiTiger1764
Posted on 5/11/16 at 3:01 pm to PhiTiger1764
quote:
so the last thing I want to do is pay $600 for an appraisal
seems high to me. Most I see are $400-$450
quote:
However, if it came in at the going price per square foot rate of $208
this wont be a factor in the appraisal. Don't count on this. This number is calculated by the software, after the report is done, and is an afterthought. It is not used to determine any comps, or value. Builders are the main ones that use this number, and it is only to determine their profit. IF the houses sold in your neighborhood are comps, and yours is slightly bigger there could be a small positive adjustment to your house, but other things they have could negate that.
Posted on 5/11/16 at 3:28 pm to Helmethead
quote:
IF the houses sold in your neighborhood are comps
Do you know how they go about determining comps? I really don't understand why they would use anything other than my neighborhood where all the houses are essentially the same.. This seems like it will be more of a pain in the arse than it's worth...
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