Updated over 7 years ago on . Most recent reply
Will change order to a new construction require a new appraisal?
I have a construction loan on a renovation. The ARV on the original appraisal is $206k (although, i think i can sell for $239k) and the loan is only for $124k. I'm switching out hardwood floors for carpet, which will probably make the value less, but i'm concerned with the bank wanting a new appraisal. I know change orders are very common, but does anyone know the answer? I'm reaching out to the bank this week.