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Updated over 2 years ago on . Most recent reply

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Masashi Borges-Silva
  • Investor
  • Manhattan, NY
70
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103
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Who is the appraisal?

Masashi Borges-Silva
  • Investor
  • Manhattan, NY
Posted

Just like the title says, do I need to find my own appraisal after renovation in New York state?

I am not familiar who is running the business. That is, is this a city governmnet’s scope of work or do I contact a private company’s scope? Or is it usually provided by the lender when evaluating VAR?

I am trying to buy a single family primary for short term rental given the market situation, and I want to analyze if long term rental make sense financially if I switch it to a long term rental in New York State. 

Thank you in advanced and happy Halloween!

Most Popular Reply

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73
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69
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Dan White
  • Flipper/Rehabber
  • Haymarket
69
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73
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Dan White
  • Flipper/Rehabber
  • Haymarket
Replied

The lender will get their appraisal management company to do the appraisal. You can always get an appraisal for informational purposes but like @Carolyn Yates said, the lender will not take it, most likely.

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