Hi all! I bought my house about a year ago and have put a fair amount of work into it. This includes a brand new roof and owned solar. I went through my lender to try to remove PMI. They did a BPO - while it did show an increase in value, it was not enough to get me below the 80% loan to value threshold. My question is - the BPO mentions my home has solar, but compares it to 6 other homes that do not have solar. It does not list anywhere in the BPO an adjustment for the solar. Therefore, it seems to me that the solar was not truly considered in the valuation. Is this a valid reason to submit for a reconsideration of value with a possible change? I understand real estate is local, but it seems national studies do show a small (but significant) increased sale price for homes with owned solar. Of note, when I search on zillow, I don't see a lot of recent (last 3 months) homes that sold with solar, but there have been many over the past 1-2 years.
Thanks for your wisdom!
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source https://www.reddit.com/r/RealEstate/comments/10kyv4o/nj_bpo_and_solar_for_removing_pmi/
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