Updated about 11 years ago on . Most recent reply
Appraisal
For the past month I have been driving around the valley looking for houses that seem to not be in the market as of yet. Found a couple of houses and I made an offer on one of them.
The offer that I made looks like it is going to be accepted I actually went over the 70% rule ( 75% ARV ) but here is where I am troubled and I need guidance to ease my mind.
The house in question is a 2 bdrm with 1250 sq ft. Comps around that area have sold for 170-190K but these have been 3 bdrms with approx the same sq footage.
Do the appraisals take only the sq footage of the homes or do they account for the bedrooms?
Your input and guidance is greatly appreciated.