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Old 10-03-2011, 02:32 PM
 
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I think I have a daylight basement. It is not a full basement. Our house is on a slope. In back of house, the basement is entirely above ground with 2 exit doors. It has finished painted sheetrock with baseboard and 7 floor to ceiling windows. The ceiling is 12ft with a dropped ceiling and lights. There is crawlspace in the front and along the sides of house. Some of sides are also above the ground. The basement has heating and air as well. It is roughed in for a bathroom. It has 3 cinderblock walls.

I am trying to refinance. Had 2 appraisals done. One says finished and the other says partially finished.
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Old 10-03-2011, 02:50 PM
 
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Rough-in plumbing generally should classify the basement as "partially finished". If the bathroom is complete and there are only walled off "storage and utility spaces" separate from the "living space" that is what would move the designation to "finished" in my book.

I doubt either appraisal will truly sink a refi if that is the ONLY difference. Most homes that fail to appriase out are due to the horrendous number of foreclosures, and finished bathroom won,t change that...
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Old 10-03-2011, 03:04 PM
 
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Quote:
Originally Posted by DJW1114 View Post
I think I have a daylight basement. It is not a full basement. Our house is on a slope. In back of house, the basement is entirely above ground with 2 exit doors. It has finished painted sheetrock with baseboard and 7 floor to ceiling windows. The ceiling is 12ft with a dropped ceiling and lights. There is crawlspace in the front and along the sides of house. Some of sides are also above the ground. The basement has heating and air as well. It is roughed in for a bathroom. It has 3 cinderblock walls.

I am trying to refinance. Had 2 appraisals done. One says finished and the other says partially finished.
Are there any areas that aren't finished (i.e. utility room)? Doesn't really matter if they list full or partially finished. What matter is if the sq footage is all correct (i.e. xxx finished and xxxx total below grade sq ft.)
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