All Forum Posts by: Branden Long

@Brad S. I think they are saying that they do not know how to do it. I talked the the guy that originally did it and he said there are a lot of variable because it is student housing and that makes it hard. Also the first appraisal was $495.

@Jonathan Greene When I was first buying the property I wanted to do it as a primary residence and I was told that there were open rooms in the house. It is a college rental unit and I am a student so I figured I would live in one room and rent the others out. The seller did not provide the leases until a few days before closing and there were not rooms open in the house. Because I could no longer live in it the mortgage company could give me the mortgage because the loan changed to an investment from residential and it could not go through underwriting. The area I am in is very rural, I am not sure why there is only 2 appraisers but there are and I am just not sure how to move forward and get my money out of the property.

So six months back I bought a rental property fully in cash. This was not my first choice but at the last minute something happened on the lender's end so I bought it in cash and figured I would refinance it in six months. Now I am trying to refinance the property and the appraiser who originally appraised the property will not go back out and reappraise it, and there's only one other in the area and they will not come either. I am not sure what to do as this is the only thing holding up the refinance and I am stuck. I even called him and he said it was too hard the first time because there aren't many houses like that anymore in the area. What should I do to refinance this property?

So six months back I bought a rental property fully in cash. This was not my first choice but at the last minute something happened on the lender's end so I bought it in cash and figured I would refinance it in six months. Now I am trying to refinance the property and the appraiser who originally appraised the property will not go back out and reappraise it, and there's only one other in the area and they will not come either. I am not sure what to do as this is the only thing holding up the refinance and I am stuck. I even called him and he said it was too hard the first time because there aren't many houses like that anymore in the area. What should I do to refinance this property?