I-864 use of real estate as asset

[Jericho980 2]

Anyway for me to not have to pay for a recent appraisal?? I read something about a tax assessment? could anyone help me avoid having to get the home appraised? thank you so much in advance! this will be the ONLY way I need the criteria.

[Villanelle 4,122]

Perhaps someone with experience at that Embassy will post. I have no idea how they handle things. I can tell you though most go by the guidelines exactly. Some are a little more flexible with evidence and others are very strict.

The guidelines state it needs an appraisal. Its actually in the instructions.

"You may include the net value of your home as an asset. The net value of the home is the appraised value of the home,

minus the sum of any and all loans secured by a mortgage, trust deed, or other lien on the home. If you wish to include

the net value of your home, then you must include documentation demonstrating that you own it, a recent appraisal by a

licensed appraiser, and evidence of the amount of any and all loans secured by a mortgage, trust deed, or other lien on the

home. "

A few other points. Some places have requested (demanded) the tax assessment as well. Maybe thats where you got this idea from? It also can not be your primary residence as thats considered a hardship. Ive also even heard of someone needing real estate comps.

[Jericho980 2]

yeah im hoping someone has ran into this issue before and found a way to avoid the appraisal its quite expensive, thank you so much for your input!

[Valkyrja 3]

We just had to do this. In our RFIE, it said to either have an appraisal done or use the tax assessment. I sent in the deeds showing zero balance on the homes, and the most recent tax assessments. You can also show the equity by sending the purchase price and then the tax assessment, if your house isn't paid off.

Hope this helps!

[aaron2020 11,651]

You mentioned "home" and not "house." Are you trying to qualify based on the home that you are living in?

[Valkyrja 3]

You mentioned "home" and not "house." Are you trying to qualify based on the home that you are living in?

In our RFIE, it asked for ALL assets, because our attorney didn't send in any. It specifically asked for deeds to the homes and tax assessments. Besides sending in income taxes for 3 years, bank statements, and any annuities/IRAs, etc.

This is all just to prove we are above the poverty income level.

[aaron2020 11,651]

In our RFIE, it asked for ALL assets, because our attorney didn't send in any. It specifically asked for deeds to the homes and tax assessments. Besides sending in income taxes for 3 years, bank statements, and any annuities/IRAs, etc.

This is all just to prove we are above the poverty income level.

You can not count your primary home as an asset for the I-864. It's in the instructions.

Do you meet the 125% poverty line for your household size on income alone?

[Valkyrja 3]

You can not count your primary home as an asset for the I-864. It's in the instructions.

Do you meet the 125% poverty line for your household size on income alone?

On our form it said "any and all real estate". Why wouldn't a primary residence be included in that? Especially if it's paid off? Not arguing, just trying to understand. Edited July 13, 2016 by Valkyrja

[aaron2020 11,651]

On our form it said "any and all real estate". Why wouldn't a primary residence be included in that? Especially if it's paid off? Not arguing, just trying to understand.

I apologize. I didn't realize the I-864 instructions had been revised. It used to be that you couldn't count your primary home and one car. The current I-864 instructions still exclude one car but now allows you to count your equity in your primary residence. Sorry.

[Villanelle 4,122]

This is why Im hoping someone from the Ukraine will post about their experience. The instructions have changed and it no longer flat out disallows your home however there is still wording that it must not be a hardship. As we all know they have ultimate discretion in deciding whats what. They can decide if its hardship or not. (the best thing to do in that case is to politely point out the instructions- which have changed and the availability of housing in your area.)

Ive also seen people successful with what they call alternate evidence. Like from Zillow or Trulia giving an estimate. The OP can try to submit that and if it gets rejected then pay for the appraisal. This of course would be matched up with the tax assessment. The only thing is often tax assessments are lower the actual sales value. But if its still enough then its worth a try.

[Jericho980 2]

Thank you so much for all your comments about this issue. My wife spoke to some Ukrainians who have immigrated here and was told that we can count our house since the changes on i-864 and that tax assessment can be excepted. I am very pleased to here similar answers here. I also want to thank you all for your info about RFIE reply that helps alot, and the Zillow tip is also great advice! Thanks so much