Ray Miller
Elite Member
- Joined
- Feb 20, 2002
- Professional Status
- Licensed Appraiser
- State
- Wisconsin
I have an apprisal to do. With the apprisal order is, what I would call a letter of intent from the Department of Veterans Affairs for a grant of $9,280.00 to be added to the home for a 20 x 40 room addition.. But this grant will not be issued until the home transfers from son to father at the closing. Current home is in son’s name. Home is new construction. Son and father are the builders.
Loan officer, father and son say this adds value to home. I say it dose not. :agrue: The transfer has not taken place. There is no guarantee that some one will not run off with the cash or the goverment will pull the program. So I say it dose not add value, even though there is a letter. :?:
They are trying to bring the value of the home up. 8O Would a loan officer or owner do such a thing?
Loan officer, father and son say this adds value to home. I say it dose not. :agrue: The transfer has not taken place. There is no guarantee that some one will not run off with the cash or the goverment will pull the program. So I say it dose not add value, even though there is a letter. :?:
They are trying to bring the value of the home up. 8O Would a loan officer or owner do such a thing?