Appraisal steps and cost

6 Replies

Hey thanks for responding... no I didn't, but the agent told me that she did. She had it listed for short sale before it eventually went into foreclosure. It's like I'm speaking another language when I asked her was it an "ARV" appraisal. So I stop asking her "investment questions"... I purchased it through auction, so I only had one day to bid. thanks again for responding ✌🏽

@Courtney Marcotte Investors do their own ARVs. An appraiser can’t tell you how much to spend on your rehab. Only you can judge how much you plan to put into. Agents order broker price opinions on shortsales. They’re cheaper than using an appraiser and may or may not be correct.

Let the appraiser know that you want a subject to completion value. You must inform and provide the appraiser with all the rehab/reno improvements that you plan to do to the property, remember the value will be the ARV after ALL rehab/reno is complete.

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