Off the Grid  Retirement at our remote log cabin in Colorado

Monday, January 19, 2015

Drive-by Appraisal

Posted by: Rick

In preparation for the upcoming retirement, we recently went through a financial planning exercise. I figured before I quit work and had no further salary coming in, we'd better damn well make sure that we have sufficient savings along with a realistic spending plan to have a good standard of living for the next 30 years. (We do.)

One of the suggestions from the financial planner was to secure a home equity line-of-credit from our bank, secured by the cabin, as a source for emergency funds. You know "just in case". And, she suggested it was best to do this now while I am still employed. (Obviously, we can't secure the line-of-credit with our NJ house, since we will sell it before moving.)

So, I contacted our current bank (which has branches in Fort Collins and Laramie) about such a loan. I went through the whole application process and even spoke at length with a loan officer. We were conditionally approved for the loan. The only condition was that they needed an appraisal for the cabin. They hired a Fort Collins appraiser to do a "drive by" appraisal.

Well, the loan application has now been cancelled and I am invited to reapply when the roads aren't closed by massive amounts of snow along County Road 80C. I guess the appraiser did not want to go through Laramie and then chain-up at the state line.

Comments:

Commenting is not available in this channel entry.

Comments

Enter your comment into the form and press "Submit" to save it. Feel free to use Smileys. Comments are moderated and won't show up immediately.

Membership

Login  |  Register

Share

Quote of the Day

“Envy can be a positive motivator. Let it inspire you to work harder for what you want.” – Robert Bringle, quoted in Redbook

Search

Calendar of Entries

August 2018
S M T W T F S
      1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31  

Archives

Photo Galleries

Recent Comments

  • Thank you for many years of wonderful reading.  I wish you both all the best.…

    Posted to: ‘Off-the-Grid is Now Off-the-Air’ by Alica Humphryson on 03/06/2018

  • Lynne and Rick, I’m sorry to see that your blog is going by the wayside!…

    Posted to: ‘Off-the-Grid is Now Off-the-Air’ by Steve on 02/26/2018

  • I want to thank you two for all your hard work.  I enjoyed reading everything…

    Posted to: ‘Off-the-Grid is Now Off-the-Air’ by Tom on 02/06/2018

  • Marsha, I’m afraid not. We won’t be blogging anymore! We need more privacy!

    Posted to: ‘Off-the-Grid is Now Off-the-Air’ by Lynne on 02/03/2018

  • Hope to see your adventures return when you get back up to the cabin again…

    Posted to: ‘Off-the-Grid is Now Off-the-Air’ by Marsha Williams on 02/03/2018

On This Day...

  • Nothing today

Syndicate