Zillow Advice: Home Buying - What can you add into your mortgage? For instance can you add appliances, furniture, etc.......

Hi! I know the appraisers ...

Mon, 06 Apr 2009 04:10:00 GMT

Hi! I know the appraisers I deal with in the North Alabama area will not give any added value to the house for refrigerators,furniture, patio items etc... They have always said that a subsequent buyer could remove those items and thus devalue the property. Patti

You can add personal items ...

Sun, 05 Apr 2009 01:06:00 GMT

You can add personal items where you usually list the appliances, ect on the board contract. And the house alone needs to appraise for the offer price.

Are you planning on purchasing ...

Sat, 04 Apr 2009 15:40:00 GMT

Are you planning on purchasing appliances, furniture, etc after closing on the home? If so, then probably no.

Are you purchasing appliances and furniture that already exist in the home you are purchasing? if so, you should be able to do a personal property addendum affixing nominal value to the existing appliances and furnishings and reflect the true value of the appliances and furnishings in your offer (keeping in mind the home still has to appraise for the contract price).

Lenders aren't generally privy to personal property addendums and Realtors generally don't include them in the package of paperwork that is sent to the lender. (At least in my neck of the woods).

For a definitive answer, check with your lender. They may have a creative way of financing what cannot be financed in the mortgage.