Q: We have a 3 bedroom condo. The third bedroom had the door removed. But does have a closet. I am being told by the appraiser, there is a new rule, without a door is not considered a bedroom, is this true?
A: There are (& will continue to be) ‘new’ & revised rules for appraisal/lending guidelines. It seems that your solution is simple. Put the door back on. If the next owner doesn’t want it, let them take it back off (& store it for next time).
I wish it was that easy. This is a rental property, the renters who live there are also purchasing the property and they do not want the door put back on. I am sure because they like it without the door but they also like the appraisal. The lender will not approve a mortgage for more than the appraisal and a 2 bedroom appraises much less than a 3 bedroom…
I don’t understand. Don’t they want this to appraise? Are they on purpose trying to ‘put a wrench’ into the transaction? What is the ‘big deal’ about – just putting the door back on for the appraisal’ ?? Sounds like they have a ‘Hidden agenda’ !!
Maybe they want to ‘beat you up’ a little on price & this is a strategy that one of their ‘well-intentioned friends or relatives’ said to do.. Who knows.
I suggest you meet with them ‘ FACE 2 FACE’ & put all the cards on the table!