Appraiser ask what we purchase property for.

[Joe S.]

Appraiser ask what we purchase property for. So I get a text from a guy doing the appraisal on a property that we done an extensive rehab on and we are getting ready to refinance it. He wanted to know the exact date and amount to pay for the property.

What I wrote him is below.

We would not feel comfortable sharing the exact amount we payed for the property whereas we did  such extensive work after purchasing it. We have never had anyone ask us that.
Thank you for your understanding. :-)

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Quote from @Joe S.:

Appraiser ask what we purchase property for. So I get a text from a guy doing the appraisal on a property that we done an extensive rehab on and we are getting ready to refinance it. He wanted to know the exact date and amount to pay for the property.

What I wrote him is below.

We would not feel comfortable sharing the exact amount we payed for the property whereas we did  such extensive work after purchasing it. We have never had anyone ask us that.
Thank you for your understanding. :-)

He's trying to help you. I always tell an appraiser what I paid and itemize the improvements so he can get me the highest appraisal he is allowed to give. Otherwise he is guessing & he will have to guess low since he doesn't have all of the information and is not willing to risk his license making up a value he can't support. I do one better, I find 3 comps and I meet him for the appraisal. I give him the comps. He can ask about the project and add ons and why I think it should appraise for the comps. It works well for me and saves him the trouble of tying to find comps.