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Home > Pray for the appraisal!

Pray for the appraisal!

June 9th, 2011 at 01:41 pm

The FHA appraiser is doing our house appraisal today. I have heard they can be brutal, and generally don't count basements (even finished) in the habitable square footage. Not good, since our finished basement basically doubles the size of our house. I have also heard that they act as inspectors as well, and can hold up an entire sale over a few spots of chipped paint. So, yeah, I'm nervous. I've worked hard, and I'd hate to have any overlooked minutiae hold up the sale.

Also, whatever number this person comes back with is held as THE value of the house for the next six months. Set in stone, for whoever buys, so it's kind of important!

If we come back low I will be demolished, considering we are selling for 12k less than we paid for the house AND I put $45,000 in improvements into the house. The world truly is not fair if none of those improvements added any real value.

Anyway, fingers crossed guys! This is hurdle no.1, and the home inspection (hurdle 2) is tomorrow. I don't anticipate any big inspection issues, since we've redone all the major systems, but you never know what normal house stuff is going to freak out buyers, especially first-time ones!

8 Responses to “Pray for the appraisal!”

  1. Ima saver Says:

    Keeping my fingers crossed for you. Good luck!

  2. North Georgia Gal Says:

    Wishing you the best of luck!

  3. ThriftoRama Says:

    Hopefully we'll have everything ironed out by Monday.

  4. Jerry Says:

    I feel your pain! Our place is being inspected because we are changing our homeowners' insurance, and we are overseas. It's a little nerve wracking, but I hope that it leads to a good result. Good luck with your appraisal!

  5. ThriftoRama Says:

    Your insurer is inspecting it? I've never heard of that before!

  6. wowitsawonderfullife Says:

    Hoping it works out in your favour!

  7. ThriftoRama Says:

    No word yet.

  8. FrugalTexan75 Says:

    Hope you got good news!

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