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BRRRR - Buy, Rehab, Rent, Refinance, Repeat

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Brennen McConnell
  • Rental Property Investor
  • Cleveland, OH
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28
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Appraisal comps on home with non permitted bathroom...3/2 or 3/1?

Brennen McConnell
  • Rental Property Investor
  • Cleveland, OH
Posted Mar 6 2021, 08:43

I am rehabbing a home as a BRRRR that is listed as a 3/1 on the county website, but when I bought it, there was a non-permitted half bath on the second floor. If I turn the non permitted half bath into a full bath, will the appraiser use other 3/2s as comps when appraising the value of the home for the refinance? Or will they have to use other 3/1s as comps since the home is listed as a 3/1 on the county website? I would imagine if selling the home, it would have to be listed as a 3/1 unless we pulled permits on the 2nd bathroom, but am wondering if it would be counted as a 3/2 on the appraisal.

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