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Renovating for appraisal

Bought a home for 445 in canada qhere the lender pulled the finances 2 yours before we recieved rhe keys because our lawyer sent them a copy of the inspection report. We had 75K put aside to renovate it. We put less than 20% down so the mortgage had to be insured. No mortgage insurers will touch it now so in an effort to not get sued the lenders have given us access to renovate the home in an effort to bring up the value to have it appraised by a bank to get a new mortgage. We are reciwving help to put 20% down now.

The house has great bones. A dry basement and no crooked floors and a 8 year old roof with no damage. Siding is fine. In the next two weeks we're putting in new plumbing, new electrical with new panel, brand new stairs to second floor and basement, new flooring, new furnace and asbestos removed. Will those renovations help with an appraisal?

Facts about house..

Built in 1948 140 foot by 50 foot lot fully fenced Block foundation Paved driveway Listed at 499,900 offer accepted for 445,00

submitted by /u/Kurthemon
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source https://www.reddit.com/r/RealEstate/comments/1eaty6x/renovating_for_appraisal/
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