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Real Property Appraisals/Refinance appraisal & bedbugs

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Question
I am in the middle of the refinancing process for my apartment. The day before the appraiser called to set up the inspection appointment, I learned that my building, and my apt., had a bedbug problem. It's being exterminated, needless to say, but I won't get the all-clear for a couple of weeks, and everything I own is in bags and may need to stay that way for awhile. Clearly it can't be good for the value of my apt. if the appraiser shows up in the middle of all this, and I'm also afraid to tell my lender. What is the best and most discreet way to postpone the appraisal until this is resolved?

Answer
Ruth,

I hope that you get this cleared up quickly. I imagine that fumigating your clothes & other things will be time-consuming and expensive.

I can think of several things you can claim:

1) You have just been informed that a relative is ill and you need to go out of town for a week. (or two...three)
2) You are looking at other financing alternatives and want to delay the appraisal until you choose the right lender. (This will probably make your existing lender go crazy, but perhaps you can negotiate better terms?)
3) Just tell them that you're not ready for the appraiser to come out & you'll call them when you are ready.

I wish you the best of luck in eliminating the bed bug problem

John C. Carlson
Victorville & Diamond Bar, CA
www.jccrea.com

Real Property Appraisals

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John C. Carlson

Expertise

Any questions regarding commercial and/or residential appraising, appraisals or real estate valuation such as: appraising as a profession, valuation techniques, comparable sales selection & analysis, the new HVCC and how it affects appraisers & Borrowers. Also, questions like: "Why did my appraisal come in low & what can I do about it?" I cannot answer questions about comparable data in areas in which I do not practice. I have expertise in most areas of So. California.

Experience

31-years both commercial and residential valuation experience. State of CA Certified General Real Estate Appraiser, licensed to appraise all property types. FHA Approved. Specialized expertise with historic, architectural & luxury residential property valuation. Experienced in industrial building and small commercial property valuation. Experienced Reviewer of appraisal reports and expertise with intensive forensic reviews to uncover fraudulent appraisal reports. Expert Litigation and Expert Witness experience.

Organizations
Associate Member of the Appraisal Institute. Associate Member of the Certified Fraud Examiners.

Publications
Numerous posts to Blogs. Please "Google" "John C. Carlson Real Estate Appraisals" where a list of responses I have made will show up.

Education/Credentials
Numerous classes by the Appraisal Institute since 1978 in the practice areas in which I specialize

Past/Present Clients
First Republic Bank Wells Fargo Bank California Bank & Trust Preferred Bank Numerous Attorneys.

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