Updated almost 7 years ago on . Most recent reply
Appraisal for HELOC within 6 months of purchase
I picked up a duplex about two months ago with a cash sale, and am in the process of putting a HELOC on it right now to get my money back out of it. The sellers were distressed, and we were able to get the property about 30k under market value. In this case, when the HELOC appraiser goes out next week, are they forced to look at the sale price of the duplex, or can they take into account what the actual market value is?