I paid for an appraisal and the home was valued at $25,000. The problem I have with this is my house is equipped with solar panels. I paid about $25000 for them. A comparable house sold for $225,000 4 months ago. Same amount of rooms, bathrooms, square feet, lot size and curb appeal (landscaping). But no solar panels. Home prices in my neighborhood have also gone up. I would like to know if there is any way I can dispute this as I feel I just wasted a lot of money on a incorrect appraisal.
Zillow ? Great at guessing value. Start with ur property tax agencies valuation. Solar panels seldom GET any return on costs. Often creating negative value. Contact actual Realtors for neighborhoods Comparison of ur house NOT appraisal. Two different animals
Zillow appraisal is useless and not at all important. If you are selling your home then the solar installation should give you some advantage, depending on how much you are still paying for utilities. The only appraisal that matters is the one a buyer gets to lock in a mortgage. Nothing else matters.
You haven 't done your research. Solar panels reduce the value of a home. If you do own them outright, instead of renting them with a contract, be sure that the appraiser knew it or knows it now. It may not change the appraisal amount. If you are renting, the value will be worse. Nobody will buy a house and pay you for the contract you signed - for renting them.
Are you trying to sell it - is that why you're wanting to change the appraised value? Your home is only worth what someone is willing to pay for it. Before anyone buys it, they'll have their own appraiser make an evaluation. Rarely do you get back upgrades $$$ when you sell. This likely includes solar panels.
Normally solar panels are listed as part of the house that supply heat, like a water heater or furnish. Your house would be appraised the same without the solar panel. Since the house you are references sold 4 months ago this might not be a comp your appraiser would have used. Normally a house would have to be sold within the past 90 days to be used by an appraiser. You are able to challenge the appraisal of the house you paid for. The appraiser would take a second look at the cops he/she used in coming up with the valuation of the property and see if here was something that was over looked. If you want to challenge the appraisal based on the fact that you have solar panels, it is doubtful there would be any changes. By adding the solar panels to your house might have been over built your house for the neighborhood. Look around your neighborhood to see how many other houses have solar panels. Normally in an area where houses are valued at around $200K or so would not normally be equipped with solar panels. This would not add value to your house as other houses in your neighborhood would still appraise for the same, since they would not have solar panels as the house you indicated in your statement did not have. I hope this has been of some benefit to you, good luck. FIGHT ON
