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Shaker Style Vanity (Poplar)


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I am surprised the appraiser did not offer to complete his appraisal "as-improved".  This simply means the appraisal is done with the assumption that the bath is complete and functional.  The lender then holds up closing until the "improvements" are completed.  This does require an additional inspection by someone - the appraiser, the bank or a building inspector to sign off on the improvements being what was considered in the appraisal.

 

Never dealt with the VA though, it may be something they do not do; or there could be other reasons not to do it.

 

Years ago the wife & I were going to build a house.  Had purchased a lot and drew up plans for a two story with unfinished basement.  Got bids for completion of the shell and first floor.  My plans would be to finish the upstairs.  Went to the bank and their response was "NO - too much money for a finished one bedroom one bath home.  Be glad to loan you another 20 grand to complete the upstairs so that we have a 3 BR 2 BA home for collateral..."   We ended up buying our present home and selling off the lot.

Cal

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1 hour ago, clhyer said:

 This does require an additional inspection by someone - the appraiser, the bank or a building inspector to sign off on the improvements being what was considered in the appraisal.

I can only imagine that a return trip would not be free Cal, in that case, whatever we can save out of pocket is more desirable, we are already spending 600 dollars on the appraisal out of pocket, so if we need to do it in one shot, fine. But to answer your question, no, they did not offer to appraise is "as-improved". Would have been nice to been offered though, at least give us some choices.

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