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SandShark5
Long may you run
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join:2000-05-23
Santa Fe, TX

SandShark5 to XXXXXXXXXXX1

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Re: Appraisals and Finished Basements

Do you know if this is just the way it is in your state or is this nationwide? I know it's filmed in Canada, but on HGTV "Income Property", the remodel dude is always telling the homeowners how much more their home re-appraised for after they added a finished apartment in the basement.
XXXXXXXXXXX1
Premium Member
join:2006-01-11
Beverly Hills, CA

XXXXXXXXXXX1

Premium Member

said by SandShark5:

Do you know if this is just the way it is in your state or is this nationwide? I know it's filmed in Canada, but on HGTV "Income Property", the remodel dude is always telling the homeowners how much more their home re-appraised for after they added a finished apartment in the basement.

Good question... not really sure. I would think nationwide as Fannie and Freddie's loan standards apply virtually everywhere. I plan to have a local real estate broker do a walk through to give me a good faith valuation. I'll ask him then.

ropeguru
Premium Member
join:2001-01-25
Mechanicsville, VA

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I will b e able to let you know the first of next week. Closing on a home on Monday and will know by then whether or not it counted. I can say that it did not for my home owners.