We had a similar experience—our appraiser completely overlooked our finished basement, which was a major selling point when we bought the place. Had to gently remind them about it, and they ended up adjusting the appraisal slightly. For us, refinancing was mostly about ditching PMI and locking in a lower rate. The savings were definitely worth the paperwork hassle, but yeah...you've gotta crunch your own numbers carefully to make sure it's worth your time.
"Had to gently remind them about it, and they ended up adjusting the appraisal slightly."
Did you have to provide comps or anything to back that up? Had a similar issue last year—appraiser totally missed our detached garage/workshop. When I pointed it out, he asked for comparable properties with similar setups. Took some digging on my end, but eventually got the appraisal bumped enough to make refinancing worthwhile. Definitely agree it's all about running your own numbers first...
Yeah, comps definitely help your case, but honestly, sometimes appraisers just overlook stuff. Had a similar thing happen—missed our finished basement entirely. Once I pointed it out (with some comps), they adjusted it. Always worth double-checking their work...
Good point about double-checking the appraisal. Had something similar happen when we refinanced last year:
- Appraiser missed our updated kitchen completely (new cabinets, countertops, appliances...the works).
- Pulled some comps myself and politely pointed it out.
- They revised the appraisal, bumped up our home's value, and we got a better rate.
Definitely worth the extra effort to review their work closely. Could save you thousands over the life of your loan.
Yeah, appraisers can overlook stuff pretty easily. When we refinanced a couple years ago, they didn't even notice we'd replaced all the windows. I was hesitant to speak up at first—didn't wanna seem pushy—but I'm glad I did. Sent them some before-and-after pics and local comps, and they adjusted the appraisal up by quite a bit. Definitely pays off to double-check and advocate for yourself, especially if you're trying to squeeze every dollar out of the deal.
