My walk-out basement has several large windows (32x50) above grade and a door leading to two steps to the door to the yard. The area is finished and heated and cooled with another staircase leading to the kitchen. We are relocating and the appraiser won't base upon 1916 sq ft to include the bsmt. This is obviously greatly affecting our appraisal amount and I'm trying to find any possible way to include this sq footage.

ScottGem

Who hired the appraiser and why does this have such an affect? Is your company paying a relocation stipend based on this? Appraised values are used by lenders to make loans. Is your buyer having trouble getting a loan for the sales price?

banker16

I'm the seller and the relocation company hired the appraiser. The appraiser is the one who isn't including the bsmt sq footage for comps in the area. So the appraiser is using comps of homes with only 1196 sq ft vs comps with homes of 1916 sq ft. If we can prove the basment sq ft is useable, then our value will be much higher.

ScottGem

Ok, so your company is using a relocation service, that will "buy" the house from you. And that's why the appraised value becomes important.

Go to your company's HR dept (or whover oversees the relocation process) and discuss it with them. Ultimately its the company who foots the bill and they can tell the relocation company what to do.

pacific nw

Normally a basement has to have two methods of egress that are no more than 48" from the floor. That is, if the bottom sill of the window is less than 48.5" off the floor and is wide enough for someone to crawl through in the event of a fire, then it is acceptable. If the ceiling is a minimum of 6'6" finished surface, that also is acceptable. But I have seen many basements that weren't finished enough for the appraiser to call it acceptable. On the other hand, I've had appraisers count space that simply had poured concrete with only one egress. Appraising is an art, not a science. Have him explain what he means. The draw back is, the person paying for the appraisal is the only one who has the RIGHT to see the appraisal. Anyone else is just lucky if they get to see it and/or discuss it.