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Updated almost 9 years ago on . Most recent reply

User Stats

128
Posts
67
Votes
Kim Stofan
  • Realtor
  • Rocklin
67
Votes |
128
Posts

Heloc question

Kim Stofan
  • Realtor
  • Rocklin
Posted

I'm working on getting a HELOC on my primary residence in Granite Bay so that I can have some cash to start investing in real estate. The drive-by appraisal came back low (630 K) but I was able to convince them to do a complete interior appraisal. We bought our home for 650K two years ago and the market in our area has increased in value, our realtor told me he'd list the house for 725K. Our realtor also offered to be present during the appraisal to "help out", provide comps, etc. Do you think having my realtor here during the appraisal would be a good idea? Could it possibly help to have the appraisal come back at a higher value? Could it possibly work against me? I'm not sure what to do. Anyone have any input in this matter?

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