I bought my house using the VA loan guarantee in 2020. I don't know what happened other than the appraisal came back. Like a ghost passed through the buying process.
Now I am pursuing the cash out refinance option to settle debts and make major improvements on the property. It's the house I live in. Everything works, the yard isn't great but I am clearing weeds. I have a burn pile out back. There's probably going to be dirty dishes in the sink.
I look at properties in the area to see what has sold, what is selling, what has price changes, and get a basic idea of the local market. I do comps and my property seems to easily fit in with the loan amount. But the houses that sell all have manicured lawns, stainless steel appliances, updated laminate floors, power washed driveways and fresh ugly ass paint.
So the big concern is that the appraiser is going to see my house, my stuff, the painting I'm doing, ugly window treatments, won't have access to the woods unless he/she wants to go into the jungle, pass judgement on my rock collection, and devalue the property.
It is structurally the same aside from all the updates (plumbing, HVAC, chimney, landscaping) but does have wear because I actively live here. Also I'm keeping it mid century moodern so the seafoam green carpet, linoleum, and hardwood, along with the dated cabinets are here.
I'm just terrified that because nothing is remudeled and I haven't given more than 1/4 shit about "curb appeal" that the property will appraise low.
Do appraisers take into consideration the type of loan? Do the appliances actually matter? I'm feeling this crazy rush to clean every scuff mark and make sure every outlet cover matches.
It's the dwelling condition, land condition, safety, and groovy style that matter right?
Man I am tripping hard on this.
- Edit – had to make some spelling errors