Appraisal happening on BRRRR this coming Monday, boost value
Hi Everyone, I'm getting ready to have my Seattle, WA BRRRR appraised in a few days. (link to old thread here... https://www.biggerpockets.com/forums/223/topics/46...)
Its been rented since June and I'm now going for my final refi to get a more standard long term mortgage.
There are many similar comps in the area in regards to sqft / beds / baths / home type / etc, however none which are renovated. I'm concerned this will likely bring down my appraisal (especially because I'm at the lower end of the sqft spectrum, 950sqft / 3br / 1ba).
Does anyone have experience putting together an info sheet for the appraiser in order to bump them in price? I put together the below info sheet / pics, and at the bottom a list of 5 comps. My goal with stating (in the below sheet) that I expect to appraise at 350-360k is that it anchors the mindset of the appraiser, so that even if they go below it wont be too far off. Is this a good or bad idea? Love to hear your thoughts...
Here's the spec sheet I put together....
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*Address Hidden*
Currently renting for $2,200/mo with high demand
Gorgeously remodeled from top to bottom, inside to out. No detail or aspect of the home was overlooked. $80k rehab to bring this home into the modern age. This work allows 16974 to stand above similar comps.
Based on comps and market demand, we expect *Address hidden* to appraise at $350,000-360,000.
- Outside
- - Roof
- - Fence
- - Deck
- - Exterior paint
- - Windows
- - Landscaping
- Inside
- - Permitted brand new electrical service and additional circuits
- - Complete kitchen with quartz counters, SS appliances, subway tile
- - Complete bathroom with designer tile
- - New flooring and paint throughout
- - Solid wood doors and trim
- - New water heater
- - Lighting
Recent sales
| Price | Condition | Bed/Ba | Sqft | MLS# | Address | Pic |
| $330,000 | Avg condition | 3/1 | 1010 | 1178693 | 1732 Beacon Wy SERenton, WA 98058 |   |
| $340,000 | Avg condition, old | 3/1 | 1150 | 1178693 | 3500 Shattuck Ave SRenton, WA 98055 |   |
| $319,000 | Avg condition, old | 3/1 | 910 | 1190202 | 12016 SE 165th StRenton, WA 98058 |   |
| $316,400 | Avg condition, old | 3/1 | 1000 | 1169408 | 12720 SE Petrovitsky RdRenton, WA 98058 |   |
| $360,000 | Avg condition / Newer | 3/1 | 1210 | 1183733 | 16309 128th Place SERenton, WA 98058 |   |