For a refinance does the appraiser know the number needed?

I don't think they know the number.

I've been in your position before where I was worried where the appraisal would come out on a renovation. My neighborhood is unique in there can be houses that have been renovated and sell for a premium $/sqft while other houses are demolished and a new house is built.

Whenever getting an appraisal, I pull 4 or 5 houses that I know are similar to mine and provide them to appraiser as a suggestion. I just tell him I'm not trying to do his job for him but I know my house and my neighborhood. You may want to do the same with a few examples that are at the price point you need.

The do not know the number on a refi; just on a new purchase

Did it for 5 years. Never knew a number on a refi. Sometimes the homeowner would tell me on site.

What kind of rates are we seeing right now? Missed the first wave because I was slammed with work in the early days of the Corona hype, planning on calling around in the next few days. Want to take some cash out while rates are low to do some needed maintenance.

no by law the lending company and loan officer cannot tell them that. but you can! be very nice about it and not arrogant.

No, just had mine done. I told him the value did not matter as the LTV was about 50%. He said he would just go as high as he could and holy shite did he. He appraised about $50,000 higher than house would sell for in reality.

quote:

---

Questionable or not, mine asked me where I "hoped" it would be. Worked out perfect for me...

---

Same here on a new construction a couple years ago. I was like WTF? She straight up asked me where I needed it to be. We did a refi a year and a half later and they waived the appraisal.

I made sure I told my guy what I put into it and what I was hoping for. Ended up better than I expected.

Yes our appraiser asked what we were thinking and came in $10k over that figure.