All Forum Posts by: Robert Szigeti

Thank you for the suggestion about the county appraiser, that may help. I talked again with my broker yesterday and explained it why I would challenge the appraisal and now they will actually do an reconsideration of value, but unfortunately yes there is not a big chance the appraiser would consider it. If they do that would mean they admitting their mistake and that probably won’t happen. But actually I am glad that going trough this because I am learning about how this appraisers looking and doing the property valuation.

Thank you so much!! That’s what my appraiser emailed me about adding the HVAC to the Florida room

no it's not, just divided by a sliding door.

Hello everybody,

I am currently in the refinancing process with an investment property?/BRRR/. I had an appraisal to decide to rent or flip the property. My prediction for the ARV was 350k. It came back at 338k. The appraiser suggested to put the nicely finished Florida room under HVAC, it would increase the value approximately 10-15k.(the Florida room 300 sqf.) Which I did, they have installed a split ac unit. The lender now sent out the Appraisal a different one, they have told me that they will not add the additional square footage to the house does not matter under AC or not. I emailed back the appraiser which I had done earlier and He said they are wrong because they are not following the guidelines. He told me to challenge it! Which I tried but my mortgage lender says that there is nothing we can do! Any suggestion?? Should I just leave it?

Thank you

Yes it is in Florida. I just had a meeting with my real estate attorney, he said it’s allowed but you need to have a separate bank account just for that and needs to make a legal note where the money is deposited and let the tenant know, but it’s extra cost and headache. He doesn’t recommend it to go forward with it.

Thank you! Yes definitely helpful!

His income which his retirement would not qualify for my requirement, he offered to send me his bank statement shows his saving, or he could pay for the whole year.

Thank you, that's what I thought too.