245: My Egregious Appraisal Story

Selling Greenville

Recently, I decided to do a cash out refinance on two identical duplexes that I own that are located next to each other. A cash out refi is a great way to take advantage of the equity you have in a property without having to sell it, and that's exactly what I hoped to do. Get cash, keep the property, have rental income pay off the mortgage, and everyone goes home happy. Well, all seemed to be going smoothly until the appraisals came in, with one being dramatically different than the other, despite the properties being identical. Never in my career have I seen something quite like this, and it drove me crazy! So I dug into the two appraisals to figure out why they were so different, and after many twists and turns... well, you'll have to listen to find out what happened in this crazy story!
This episode is sponsored by Piper Insurance Group, who can help you with all your home, auto, and umbrella insurance needs. Contact them for a free quote at: [phone] / [e-mail] / https://piperinsurancegroup.com
As always, if you have any questions or comments (or, of course, need a realtor), feel free to reach out to Stan McCune directly by phone/text at [phone] or by email at [e-mail].