Home Appraisal: Do they need access to all spaces?

Question

I am buying the home I’m living in, in the coming month or so. The appraiser has been ordered. The property has a rental unit and two garages. One of these garages is rented out as storage and will not be accessible for the appraisal. Is that going to be a problem? Will they be able to assess the home value only looking at the garage from the outside?

Additionally, are there any conditions of the property that would cause my lender to pull their loan? Or is the sole purpose of the appraisal a valuation.

Thanks!

First time home buyer, Catherine M.

Additionally, are there any conditions of the property that would cause my lender to pull their loan? Or is the sole purpose of the appraisal a valuation.

Thanks!

First time home buyer, Catherine M.

Catherine M. · Answer

@AJ H.

Thank you!

Aaron W. · Answer

@Catherine M. The more of the major parts of the property the appraiser can access, the more accurate of an appraisal this person can complete. The lender should not pull the loan but if the appraisal value comes in lower than the selling price, then you will be responsible to fund the amount above the appraised value.

Best of luck!

Home Appraisal: Do they need access to all spaces?

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