All Forum Posts by: Adey Bilewu

Need some Home Appraisal Advice

Currently working through refinance of a home with the same lender that held the mortgage for 7+ years.

When I applied for the refinance, I reviewed the details of the estimates with the loan officer who said that they would require an AVM and not an appraisal. That was over 90days ago. The application finally made it to processing 2 weeks ago and 2 days ago I was informed they require an appraisal not an AVM and now have 30days to close.

Here's what I see as my options;

1. Spend the next two weeks getting the home appraisal ready so I can close in 30days.

2. Order the appraisal without doing anything to the home (as is) and hope for the best.

Do I have any other options here? If I go with option 1 what should I really focus on to get a good appraisal.

Thanks

Thanks all for the warm welcome...

@Kayla Givens Great suggestions there...never thought about buying a home together as a house hack. I was just thinking if there maybe an option for investment in this kind of scenario. It appears there is an option there. Will check out Timothy M Giberson advice.

Hi, am new to Biggerpockets, Just finished listening to "How to Invest in Real Estate" and in the middle or "The Millionaire Mindset" Still trying to figure out which type of real estate investment I want to focus on. However I shared the concept of house hacking with a friend of mine, he seams to be interested...need ideas on how to pursue this lead. Thanks