Appraisal sadness

Questions, answers and advice for people who own or work on houses built during the 20th century.

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Re: Appraisal sadness

Postby Kansas. 1911. on Thu Jul 15, 2010 9:06 pm

Iggy, you still give good advice.

Just to clarify, the person who sat down with me sells real estate but she used to be an appraiser, so she wasn't dissing the other guy's work. Just commenting. I asked her to think like an appraiser and help me understand. I also went to the county appraiser for help in understanding appraisals. I'm all straightened out now, and we're going ahead with the refinancing using money from savings to make up the difference. did I mention we have a little HELOC in there that we're trying to roll into the mortgage for a lower rate. I'm very optimistic now, and hopeful, that it will be smooth sailing from here on out.

Thanks, all.
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Re: Appraisal sadness

Postby oldhouseluvr on Thu Jul 15, 2010 9:53 pm

Kansas - I couldn't offer any better advice than anyone already had, but I wanted to tell you that I'm glad this is still going to work out for you.
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Re: Appraisal sadness

Postby Igloochic on Fri Jul 16, 2010 2:37 am

Kansas I'm glad I didn't offend. I can't count the number of times I've had to sit in front of a client and say this same stuff because some dork in mortgage lending made their life more miserable by giving hope where there really wasn't any...not to mention sort of umm tossing compliance down the toilet :roll: It does a client the worst disservice. I always explored ways to help folks, but sometimes you just have to say it like it is and help find a way to make things work verses BS'ing til you really peeve someone off. In print, verses in person, I think I sometimes come off a bit blunt and don't really want to be so I'm glad again I didn't make you want to smack me silly :lol:

That said I'm sorry it didn't work out quite as well as you'd have liked, but also glad you have a plan B! You'd think that I couldn't get in the same boat...but I went through morgage hell when we purchased this place, being lead down a BS path by a banker at wells for SIX MONTHS! We had a plan B but much like BP we didn't actually have it quite ready to use :o We were danged lucky the seller was a doll about it and waited for our relief well to....oh gad get me out of oil talk....heh heh We gave up on the bank screwing with us and went to another and after six months of crap, completed a refi in 3 weeks. If you really don't like the deal...and it's worth the effort, you can always try that route.
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Re: Appraisal sadness

Postby S Melissa on Fri Jul 16, 2010 9:41 pm

The last thing I know anything about is home lending - especially these days with all the crazy regulations/or lack thereof! But I've been told that some local credit unions have been pretty good with lending for mortgages. They don't have all the same issues the bailed out banking industry has had, they have more leinient lending practices, and they have money to lend. I don't know if that's an option or not - but thought I'd bring it iup! Good luck - hate all that crap.
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Re: Appraisal sadness

Postby matchbookhouse on Fri Jul 16, 2010 10:21 pm

Re: what S. Melissa said about credit unions: it's true. I just refied to 4.25% with my credit union, and the entire process was a breeze. I had exactly 2 meetings at the credit union (initial app and then turning in necessary paperwork); then they took care of everything. The title company closer even came to the house for me to finalize the paperwork! And they guaranteed that my mortgage will always stay with them, so if I have any questions I only have to walk 2 blocks to ask.
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Re: Appraisal sadness

Postby sundine2 on Sun Jul 25, 2010 5:07 am

We went through our credit union ( actually joined the day we applied for the mortgage) to get our house refinanced almost 2 yrs ago. We took out 20k extra for kitchen remodel. The credit union WAS a breeze. They had a "drive by appraisal" but I had already talked to a real estate agent who also did appraisals to see how much he thought. Of course it barely came over what we had paid for it and that is even after we put in a 3 car extended garage, new roof, concrete drive, deck, etc. So next week I am going to check the credit unions rates again to see if I can refi for lower rate and for a 5 yr loan. Hopefully it will appraise for more since we did remodel the whole kitchen.
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Re: Appraisal sadness

Postby ronangills on Sat Jan 04, 2020 12:51 am

I think for the best real estate appraisal you you can contact an appraisal consultant. He/She will definitely help you.
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