Jordan Ayan, Luxury Market Expert, CLHMS,Million Dollar Guild (The Lifestyle Collection)

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Rainmaker
892,489
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

I see nothing wrong in providing supportive documents for the bank appraiser...whether they are used or not.

More important is your ability to fine tune your appraisal of remodeling opportunities, we investors learn the most when deals go negative.

Apr 07, 2018 07:30 AM
Rainmaker
4,572,765
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I do all of the above when an appraiser asks me and when they don't, I offer to provide past recent appraisals and/or comps. This has helped me get some properties appraised that might have been questionable otherwise. I

Apr 07, 2018 07:45 AM
Rainmaker
7,129,870
Roy Kelley
Retired - Gaithersburg, MD

I would provide the documentation.

Apr 07, 2018 07:34 AM
Ambassador
4,626,789
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Absolutely to both, Jordan! Anything to support your price is welcomed by most appraisers. Be VERY detailed in the list of things you did for the remodel - every dollar counts! Good luck!

Apr 07, 2018 08:28 AM
Rainmaker
4,305,611
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

I provide "comps" and anything else I feel will bring the value to the purchase price. 

Apr 07, 2018 08:06 AM
Rainmaker
1,372,815
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

I offer them anything I think will help the house and them to value the house properly. It's up to them to decide where the boundary is.

Apr 07, 2018 07:49 AM
Ambassador
3,175,249
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I would ask for a local appraiser intimately familiar with the local market. I would provide that appraiser with comps and all supporting documentation request. 

Apr 07, 2018 07:48 AM
Rainmaker
1,775,857
Lyn Sims
Schaumburg, IL
Real Estate Agent Retired

If I were you & the appraiser did not sound knowledgeable I would call the lender & reject that appraiser. Feelings will get hurt but possibly not your wallet doing so. You will have to provide info on his incompetant words to your house.

I have not heard of providing all the costs. I'm not sure that it would help but sometimes like with marble items, it would be good to say it costs 6K as an example. If they are above the norm cabinets as an example or appliances.

Apr 07, 2018 07:46 AM
Rainmaker
5,581,328
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

when I was actively listing property, I provided every piece of documentation that would make the appraiser's life easy.... make them smile and they do great work....  

I had one that I knew would not appraise....I provided everything... the appraiser was sooo good and appreciative, she MADE IT APPRAISE.... she appraised it as she would a new home... the cost method.... I zipped my mouth and thanked her....  

bottom line is provide everything.... and I'd give a copy of the appraisal you have in hand...

Apr 07, 2018 10:17 AM
Ambassador
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Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

 Give them what they ask for.  Be prepared to challenge it.

Apr 07, 2018 10:00 AM
Rainmaker
539,377
Dave Halpern
Dave Halpern Real Estate Agent, Inc., Louisville, KY (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Competence is important. Knowing the area is part of competence. 

Apr 07, 2018 09:20 AM
Rainmaker
5,768,742
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Jordan,

We would like Pete Xavier with X Group Real Estate Advocates said.  A

Apr 07, 2018 07:36 AM
Rainer
180,615
Harjeet Bhatti
FITH THIRD BANK - Chicago, IL
Home Mortgage Consultant 25 States

I think providing documents don't hurt the appraisal it may add value in it. 

Apr 07, 2018 01:20 PM
Rainmaker
874,468
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

I provide all information that can be useful for the appraiser to do his/her job.

Apr 07, 2018 01:03 PM
Rainmaker
437,139
Joseph Domino 480-390-6011
HomeSmart - Scottsdale, AZ
Real Estate Made Easy

Jordan Ayan I certainly would provide the appraiser with any documentation that they request that will help support your price.

I am not sure that an old appraisal, especially one that does not support your price if going to be helpful.

I think at this point you and the buyer have agreed to a price and your goal is to show that the house can support the sales price. No cheating, just whatever valuable information you can provide to help ease the sale.

Apr 07, 2018 10:59 AM
Rainmaker
1,439,321
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Yes.  I'd provide the appraiser with any and all information that could justify the contracted price (or higher).  The only question is will the appraiser use it.

Apr 07, 2018 08:48 AM
Ambassador
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Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

 

Work with the appraiser. Give them anything that is pertinent to the property. Updates, costs and available appraisals. All this make his/her job easier. Be available to answer questions. Be helpful, be kind. An appraiser also wants to make it work... if they can.

Apr 07, 2018 09:10 PM
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Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Provide whatever backs up your case.

Apr 07, 2018 07:56 PM
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Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Provide him any documentation you think will help including a list of improvements and costs and comps in the area Sometimes we have to do their work for them.

Apr 07, 2018 06:39 PM
Rainmaker
1,054,223
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Appraisers often have difficulty in fixing a proper value on a property. Most appraisers appreciate additional supporting information.

Apr 07, 2018 04:00 PM
Rainmaker
290,619
Allie Angeloni
Long Realty - Oro Valley, AZ

I would definitely give Comps in your area/neighborhood, as well as documentation on the cost of different items in your remodel - to me, that would be helping your new appraiser to make an honest, relevant Appraisal, and more so if he does not know the area - sad that an appraiser who does know your area was not chosen, but it's not your choice.  As far as the past appraisal, I probably would not show it, because values have changed, and after all, it was just that one person's opinion Jordan Ayan.  Best of Luck - your kitchen looks very, very nice!

Apr 07, 2018 03:39 PM
Rainmaker
854,842
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

I think it's useful for an appraiser to know what work was done on a home; it is for him to decide how much it is worth in the market in his opinion based on comps.

Apr 07, 2018 02:29 PM
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Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

Depends how old it is...

Apr 07, 2018 02:04 PM
Rainmaker
4,633,637
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Provide the latest comps for your property. Nothing else.

Apr 07, 2018 01:19 PM
Rainmaker
1,147,382
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

It won't do any good to provide your old appraisal. Six months is about the limit for their viability in general. Gather up those receipts and substantiate your costs. It can't hurt in my opinion.

Apr 07, 2018 11:23 AM
Rainmaker
2,114,650
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

It is normal here for an appraiser to ask for receipts Jordan Ayan . I would also give him the other appraisal. The more info the better his decision.

Apr 07, 2018 11:22 AM
Rainmaker
1,457,333
Raymond E. Camp
Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

At least they asked and yes.

Apr 07, 2018 08:42 AM
Rainmaker
3,071,034
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Pete Xavier with X Group Real Estate Advocates 

nailed this one!

 

Apr 08, 2018 06:37 AM
Rainmaker
1,190,994
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

explain the delta and show invoices about improvement enhanced....Most important tell them what you are aiming for.....

Apr 07, 2018 12:47 PM
Rainer
87,920
Jeff Perlis Prime Properties
Prime Properties - Lake Arrowhead, CA
Experience Your Own Transformation!

Yes, remodeled properties are usually sold for higher price. I'd look for another appraisal.

Apr 13, 2018 06:00 PM
Rainmaker
5,400,045
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Around here appraisals are only viewed or used for 6 months.   

Apr 10, 2018 12:41 PM
Rainmaker
4,433,809
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Ken has answered.

Apr 08, 2018 01:45 PM
Rainmaker
4,799,732
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I would give him these documents but not the older appraisal.

Apr 08, 2018 06:32 AM
Ambassador
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Anything to get the 'right' price from the appraisers, Jordan Ayan.

Apr 07, 2018 11:11 PM
Rainmaker
3,986,000
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

i would give the info but not expect to see full value of your improvements

Apr 07, 2018 07:13 PM
Rainmaker
2,700,735
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Hold the other appraisal data as well as costs and let this current appraiser do his job. If he doesn't do it, unleash those two little items to seal the deal

Apr 07, 2018 04:07 PM