What if I am in the process of doing some work to my home?

This can depend on several factors and you should notify your lending institution on the work currently in progress. Ultimately, it is at the lender's discretion on how they want the subject property to be appraised. The property can be appraised "subject to completion of plans" in which the report is completed based on the work already being completed. This may call for a reinspection of the completed work at a later time in which the original appraiser must return and visually verify completion.

A report addendum is attached to the original appraisal report and sent to your lender with accompanying photos. Additional fees do apply for this type of reinspection. The property can also be appraised "as is" in which it is given an estimated value based on it's current condition. Deductions are made respectively for the work which is not complete and will affect the overall estimated value.