The Appraisal


Sooo…the appraiser turned around the appraisal in a few short hours yesterday.  The bank called last night with some bad news.  Not devastating but bad.  The house appraised about 18K short of what they were expecting and they can only lend us 11K below what we requested.  They will give us what they can and anything over that will have to be covered out of pocket.  Now.  Thank goodness for our emergency fund and savings and we have some cash available but we don’t want to spend that much.  The good news is we know we can get some materials at a lower cost and Scott can do some of the work.  We think we’ll be close but yeah, we’re going to be on a tight budget for the whole ride.  I had hoped to sail through without a worry but thinking about it, I think it’s good that it’s going to force us to be wise with our money.  We all know I like a good deal so I’m going to have to do some serious deal hunting without sacrificing the plans since that’s what got the appraisal even where it is.  Which means…we’re getting the fireplace.  So excited about that!

So next steps are to order the title search and then close, probably next week!  Eek!


  1. I know you can do it, Amy! You have a great attitude about it, too. :)

  2. Let me know if I can help, and Jeff too!

  3. It will work out – you might have to forgo some of your awesome, amazing, totally cool decor ideas but you won’t miss them in the end. Think of it as an automatic way to save money.
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  4. Amy, did they do a full walk through appraisal or do a simple appraisal? If a full walk through wasn’t done, it can a lot of times lower the value by up to 15% (at least where I live when I did mortgage loans, this was often the case).