I was told that appraisal will be waived for my property refinance, but now lender told me that since its categorized under condo appraisal is needed. And they cannot cover that cost so its a bummer to pay $800 out if pocket :( this is what county website mentions for home type- 141 Single Family Residence Condominium Detached Any ideas on how I can avoid paying this cost? Anyone with experince of refinancing (its my first refi)? #refinance #mortagage
Ask if it’s possible to get an appraisal waiver. I was told it’s very rare but it happened in my case. Google “appraisal waiver refi”
You’ll need to pay for appraisal. It’s worth the savings. Just do it.
You will save more money in the long term. Also 800 seems expensive, I payed like 450. I used loandepot and they returned me the appraisal fee after closing
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You’ll need to pay for appraisal. How else can the bank know how much your burnt down condo is worth or it is still there where you said it was