Updated about 7 years ago on .
Seeking HELP From an Appraiser
Hi all, I'm having trouble pin pointing an offer for an SFR short sale. The house is about 1,500 sq. ft. with an stone foundation that needs piers. I got a bid and found out it would cost 25-30k, and also comes with a lifetime warranty. My main concern is it will appraise for less because it has piers. I don't want to misjudge the situation, as the refinance is a big part of the strategy. So my question is, will this affect the appraisal in the future (lets act like the market will stay exactly where its at). To illustrate this better, lets say the house would be worth 170k IF the foundation had no issues. I pay 140k because the foundation DOES have issues and spend 30k to install piers. Would this appraise for 170k? Any and all help would be amazing! Thanks!