Any home appraisers out there?...

[Unicorn Jeff]

that paneling sure looks nice

That's what I said LOL. They're painting/staining it.

[8mpg]

Those floors do look great. If we were on concrete that would be my floor of choice.

[Unicorn Jeff]

Those floors do look great. If we were on concrete that would be my floor of choice.

Nothing a little overlaying can't fix

[sosoe]

We could always overlay it and stain it

X2

Seen it done and sho nuff looks good..

[Vertnut]

A new house cannot be given a COA or final inspection (certificate of occupancy) without floors. Do whatever you need to do to get the carpet done. A lot of places (Home Depot) have deals right now, including 12/24 months interest free.
Also, keep in mind, you have to live with whoever the lender sends out.

[Rreemo]

how do you expect them to place a value on something not completed? there is no way to do that and keep it in line with comparable sales. I'm a mortgage underwriter and i would flat reject that appraisal if there was any value given to it. Its not "inhabitable". Its very black and white with the new appraisal regulations within the last few years. Blame FNMA not your broker or appraiser. they aren't gonna risk their licenses so you can build a shop.

No need to post a dick reply Dude....just b/c you're "in the business".

I never expected them to give me full value, that's not my point...but saying that it adds flat zero to the value of my house, simply because there is no carpet and that's the only thing preventing it from being "completed" to their standards....how on earth do you figure that as making it "inhabitable"? You need carpet and base boards to live here? Really?....AC, heat, insulation, walls, doors, built-in cabinets, granite, windows with solar screens, fully built-in media closet with already functional surround system, projector, seating risers, fully operable security office...a full bathroom with running water...fuck, even built-in and lit theatre poster boxes....but oh my...that carpet is a fucking deal breaker!! Give me a god damned break....do you not see how stupid that sounds? Nothing at all as far as value is concerned just b/c there isn't carpet on the floor yet...really? How much is carpet for 1000 sqft?....$3-4K?...so call it the benefit of the doubt and knock off $10K...but to not include the entire space with everything mentioned above...legit with permits, etc, etc. Makes no sense at all.

And yes...I do blame the broker, b/c I covered this shit with them beforehand and they fully assured me that it wouldn't be a problem just missing carpet and base boards.

I guarantee you if one of those crooked assed lenders foreclosed on a house exactly like this they'd put it on the market at full value with a notation of needing carpet on the second floor....I seriously doubt they'd forego the entire space on market price just for carpet....so why should I?

BTW - I'm not trying to borrow money for my shop....I only planned to take some equity out and pay for it with money that is technically already mine. That's the problem with you fucking lenders...you think you rule everything as the only option....guess what??...you don't! Some of us actually have other means.

But the fact you'd throw your weight around with that statement to "flat reject it" without ever having seen my house and/or the space in question...pictures of it or anything...well...that tells me all I need to know about you, your character, and your opinion.

...just like another wrinkled asshole.

[Silverback]

Oh he mad..

And Chris wasn't being a dick he was telling you what the lending rules are.

You can't get a loan on a new purchase if it doesn't have completed flooring.

[Rreemo]

A new house cannot be given a COA or final inspection (certificate of occupancy) without floors. Do whatever you need to do to get the carpet done. A lot of places (Home Depot) have deals right now, including 12/24 months interest free.
Also, keep in mind, you have to live with whoever the lender sends out.

Thanks for the advice man, but money isn't the problem....I can plenty afford carpet right now, I don't need to finance that. The problem is that we just aren't ready to put carpet in yet....I built a custom bar up there and have decided to have it faced with stone that matches the front elevation on my house, it doesn't need it...looks good as-is, but simply something I want to do to make it look that much better. The stone mason I'm using is just running a few weeks out, and we don't want to put brand new carpet in there and then have these guys go back trampling up & down the stairs on brand new carpet with 1-2 tons of stone, mortar, supplies, all their equipment, etc. They don't want that either.

We would have waited altogether, but the mortgage broker assured us this wouldn't be a problem, and apparently they spoke out of their ass....that's my problem #1. Besides that, the appraiser was an unprofessional prick, problem #2....never a reason for that, I'm the customer...he has no reason whatsoever to treat me like a schmuck....I gave him no reason for that at all. Plenty of people out here know me and can attest that's not how I do things. This guy just pushed far enough to end up with the shitty smelling end of the stick before he left my house.

As I said above...this whole refinance isn't a huge deal for me. I have a load of employer stock maturing this summer and can just as easily cash in and pay for my building without giving these fuckers a dime. Beyond that I'll realistically probably only be in this house another 5-8 years...so that 2.5% isn't as great a deal as some might think either.

[Rreemo]

Oh he mad..

And Chris wasn't being a dick he was telling you what the lending rules are.

You can't get a loan on a new purchase if it doesn't have completed flooring.

It's not a new purchase...and they gave me a loan on it without flooring when I built it!

The jab about flat denying it without knowing a thing about it, a thing about me, my finances, etc...and the next jab "just so I can build a shop"....came across dick enough to me.

But apologies if dick-e-ness wasn't the intent and I just took it out of context...I'm a bit edgy after this BS....and especially towards these mortgage crooks!

[TRAXX]

I feel your pain. I went through this selling my house earlier this year. Appraiser came in and valued my house 20k less than the selling price. He valued it less than comps 200 sq ft smaller and no updates and it completely killed the deal. You can appeal, but that is a joke since the appeal goes directly to the same appraiser (they arent going to change their mind). A search revealed the appraiser is well known for shitty appraisals. Mine had the initials M M...would be funny if its the same guy that did yours.

House went back on the market, got another offer within a week and 1k of the original offer, and the appraisal was 23k more (fortunately a different kind of loan so the other appraisal didnt apply). Its just luck of the draw unfortunately.

Technicalities suck, but appraisers are under a microscope since the housing bubble burst so they are going by the book.

[Pro88LX]

LMFAO you asked for an answer and didnt like the factual, personal knowledge based one you got, so you call me a dick? Go fuck yourself. I wasn't being a dick, i was explaining the situation, but enjoy the 500 dollar assfucking you just got on your appraisal you cant use.

[Pro88LX]

Besides that, the appraiser was an unprofessional prick, problem #2....never a reason for that, I'm the customer...he has no reason whatsoever to treat me like a schmuck....I gave him no reason for that at all.

you wouldn't be pissed if someone was telling you how to do your job without any knowledge of the compliance issues and the potential to lose your license from doing it wrong? Sounds like you were out of line arguing with the guy. I dont give a fuck either way, but i will call a spade a spade.l

[UserX]

I didn't think you were being a dick either. I just think Rreemo had a shitty day.

[Pro88LX]

I feel your pain. I went through this selling my house earlier this year. Appraiser came in and valued my house 20k less than the selling price. He valued it less than comps 200 sq ft smaller and no updates and it completely killed the deal. You can appeal, but that is a joke since the appeal goes directly to the same appraiser (they arent going to change their mind). A search revealed the appraiser is well known for shitty appraisals. Mine had the initials M M...would be funny if its the same guy that did yours.

House went back on the market, got another offer within a week and 1k of the original offer, and the appraisal was 23k more (fortunately a different kind of loan so the other appraisal didnt apply). Its just luck of the draw unfortunately.

Technicalities suck, but appraisers are under a microscope since the housing bubble burst so they are going by the book.

I would have ordered a field review on that appraisal. When we have a dispute and the original appraiser stands firm, but the higher value is supported by the comps and my AVM, we have work arounds.

[Pro88LX]

I didn't think you were being a dick either. I just think Rreemo had a shitty day.

sure, but thats not my problem.