Home appraisal for HARP refinance

[jenni232323]

I posted over on TN but you know it ate my post. So one day it may show back up over there too...

We're in the process of refinancing under HARP 2.0 (LTV <150%). Our home appraisal is next week and aside from spring cleaning and general de-cluttering, any recs? I would think since we're not looking to sell, it's ok to leave up our personal items (pics, etc).

TIA!

[jenjen]

When we refi'ed our old house a few years ago, the appriaser took measurements inside. I walked through it with him and he asked about how old the a/c was, roof, siding, etc. He was just there for sq footage and to see that the house wasn't falling down I think. We discussed what improvements we had made and then I asked a few questions like "if we do this, would that help?" and he gave me honest answers. I would only do a regular cleaning and not really do much else.

I've read some appriasers do a 'drive by' or outside only appraisal. Not sure if that's common anymore or not.

[rubytue]

For an appraisal, just cleaned is fine. I'd spiffy up any upgrades you've done, but I wouldn't worry too much about it. Like the PP said, the appriaser is just looking for the basics: # of bedrooms, # of baths, kitchen quality, finished basement, etc. Refi appraisals are usually easier, too.

[patches31709]

We're refinancing under HARP and appraisals are no longer required.

[rubytue]

May 13, 2012 18:53:19 GMT -5 patches31709 said:

We're refinancing under HARP and appraisals are no longer required.

You know, I almost said something about that. I didn't think they were required, or that HARP just used the value the computer appraisal spit out. But we have been lazy and didn't finish our HARP 2 refi, and I thought that maybe it was because the LTV was over 110%? There was something about that number when I talked to them.

[julygal]

We just completed our HARP refi a few weeks ago. We did a thorough cleaning for our appraisal, but left up anything personal including a lot of the baby stuff.

We were told that the appraisal did not affect the outcome of the refi, but that as we were in FL it was required. Most lenders we shopped around said we'd need an appraisal due to our location.

Our appraisal actually came back higher than we expected, and we lost some closing cost assistance that would have been available had our home been hugely under water not just a little bit under water. We pushed the bank on this and they refunded us some of the difference, but it was a little ass backwards that we appraised too high.

[jenni232323]

Thanks for the updates.
Yes, I've heard both sides - appraisal is required and then not required. Like julygal, I'm in FL and have heard more that it is required.
We're running through 2 banks and this first one the appraisal is already included in our low app fee so they say.