What is a "Subject To" Appraisal?
This is a very versatile product. The most common use of this product is to figure out now what the value of a home will be in the future, assuming certain changes are made to the home. For instance, purchase a bank owned home that is in rough condition, then remodel it, and offer it for sale again. Anybody can order one of these appraisals. Many times realtors will get these so they know for what a future home should sell.
FHA 203K Appraisal:
Another very common use of this product is called an FHA 203K appraisal. In order to encourage the betterment of properties in the area, the government will loan many thousands of dollars for remodeling a currently purchased home.
Acreage Sell off:
Another use of this product is the reverse of improving the home. For instance, there may be a single family home located on a 10 acre lot. The homeowner wants to know what will be the value of the home if they sell off 5 acres.
There are very few appraisers that understand how to complete a "subject to" appraisal properly. We specialize in "subject to" appraisals and FHA 203K appraisals. Good Faith Appraisals has completed hundreds of these products for very satisfied clients. Call or email me today if you want to know more about this special type of appraisal.
Sample of a "Subject To" Appraisal
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