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Shoutout to the appraiser who killed my cash out refi over a $400 fence I built myself
So I applied for a cash out refi back in March on my place in Peoria, and everything was moving along fine, I mean the loan officer said we were 2 weeks from closing. The appraiser came out, walked the yard, and then dropped the news that my DIY fence (I put up 90 feet of cedar myself last fall, saved about $2,800 on install) was dragging my value down because it isn't "professionally installed." Mind you, that fence is plumb and solid, I used galvanized brackets and set the posts in 60 lbs of concrete each. The guy knocked $6,000 off my appraised value, which cut my available equity so much that the refi barely made sense anymore with the closing costs. I argued with the lender for a week and got told the appraisal is what it is, so now I'm looking at either paying for a second opinion or just waiting it out. Did anyone here fight an appraisal and actually win, and if so what did you bring to the table?
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