What Lenders Look for in a Renovation Appraisal

This kitchen renovation, for so long just a gleam in my iPad, is becoming a reality, and that's exciting. I'll be paying for a good deal of it out of pocket, but I'll need to borrow additional funds. Let's take a look at the number-one thing a lender looks for to approve renovation financing: Will the current value of the home support the current mortgage loan amount plus the renovation amount you want to borrow.

FSBO: How to Get a Good Appraisal

When I set out to sell my Brooklyn apartment FSBO in 2013, I was expecting a challenge with the appraisal. Though the real estate market in NYC had fully recovered from the wake of the housing bubble of 2008 and prices were back up, lender appraisals were not keeping up with fair market values. I knew that I had to take charge of the process to ensure that the appraiser assigned by my buyer's lender would have all the information I needed them to have at their fingertips.