Appraised Value

Discussion in 'Buying a Net Zero Energy Home' started by Clancey, Dec 21, 2016.

  1. Clancey

    Clancey New Member

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    I just completed construction on my zero energy home. My lender says that the loan to value ratio must at least 80 percent. What can I do to get the best appraised value for my mortgage?
     
  2. Bruce Sullivan

    Bruce Sullivan New Member

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    I recently went through this process on our new home. Our appraiser had no knowledge or experience with zero energy homes. However, they did seem eager to learn more about it. I prepared a packet of supporting information to help them see the value. The packet included third-party certificates: ENERGY STAR Homes and Earth Advantage. I wrote a one-page narrative describing all the energy-saving and green features. Then I filled out an Appraisal Addendum that itemizes the features along with the cost of each. While appraisers prefer to base a home's value on market comparisons, they may also use a cost method. The addendum supports the cost method. While they will probably still need market data, the Appraisal Addendum gives them some useful background. There's lots of good information about appraisals right here on the ZeroEnergyProject.org. Check it out!
     

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