Will Zillow appraisal work(split)

[Deang6 2]

On 3/5/2024 at 10:10 PM, Family said:

You can update the I-864 A (your father in law) to show assets you mentioned . Show equity in house with copy of property tax statement, a Zillow market value print out ...

 

Is a Zillow market value printout adequate? The I-864 instructions say to get an appraisal by a licensed appraiser. 

 

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"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. "

==

[pushbrk 12,806]

1 hour ago, Deang6 said:

 

Is a Zillow market value printout adequate? The I-864 instructions say to get an appraisal by a licensed appraiser. 

 

==

"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. "

==

No, it is not adequate and value is not the issue.  The issue is equity, so you must disclose and document the mortgage balance.  The instructions are there for a reason.  Don't ignore the instructions that say that the assets that count must be liquid, and that a primary residence is NOT considered "liquid".

 

Literal interpretation is the key.   Don't engage in "convenient interpretation" in THIS process.  You were well advised already what to do to solve the problem.

 

Edited March 18 by pushbrk

[Deang6 2]

1 hour ago, pushbrk said:

No, it is not adequate and value is not the issue.  The issue is equity, so you must disclose and document the mortgage balance.  The instructions are there for a reason.  Don't ignore the instructions that say that the assets that count must be liquid, and that a primary residence is NOT considered "liquid".

 

Literal interpretation is the key.   Don't engage in "convenient interpretation" in THIS process.  You were well advised already what to do to solve the problem.

 

Good to know. I was already planning to get an appraisal by a licensed appraiser, but when I saw that suggestion by Family to use Zillow I had to ask.

[Family 3,988]

3 hours ago, Deang6 said:

Good to know. I was already planning to get an appraisal by a licensed appraiser, but when I saw that suggestion by Family to use Zillow I had to ask.

My suggestion is based on hands on experience and success. It works. The property tax statement also shows assessed value even though that number is less , they have always accepted the informal market value  of Zillow or a free comp from a RE agent

 

 

[pushbrk 12,806]

8 hours ago, Deang6 said:

Good to know. I was already planning to get an appraisal by a licensed appraiser, but when I saw that suggestion by Family to use Zillow I had to ask.

Since it's not liquid anyway, Zillow might work if combined with evidence of the mortgage balance.  Value is not enough.  The issue is "equity".  But still, wouldn't the solution I gave you solve the problem without bothering with assets?  Why pay for an appraisal and/or add an non-liquid asset, instead of doing it the right way, and reducing the household size from 3 to 2?

[Deang6 2]

1 hour ago, pushbrk said:

Since it's not liquid anyway, Zillow might work if combined with evidence of the mortgage balance.  Value is not enough.  The issue is "equity".  But still, wouldn't the solution I gave you solve the problem without bothering with assets?  Why pay for an appraisal and/or add an non-liquid asset, instead of doing it the right way, and reducing the household size from 3 to 2?

My household size is currently 2 -- me and my wife. I'm well aware that they need to know the mortgage balance, which is 0, and that it should not be my primary residence, which it is not. The reason I plan to include my investment property as an asset is because I'm self-employed and I want to prove beyond a reasonable doubt that I can support my wife.

[pushbrk 12,806]

1 hour ago, Deang6 said:

My household size is currently 2 -- me and my wife. I'm well aware that they need to know the mortgage balance, which is 0, and that it should not be my primary residence, which it is not. The reason I plan to include my investment property as an asset is because I'm self-employed and I want to prove beyond a reasonable doubt that I can support my wife.

You originally stated you used your father as a "household member" instead of a "joint sponsor".  That would make your household size 3.  I advised you to redo your financial package with your father as a joint sponsor, which would reduce both household sizes to two.  So, are you trying to qualify on your own, with self employment income plus liquid assets?  Please clarify.

[Deang6 2]

I'm not the original poster. I'm a different person who saw Family's suggestion to use Zillow, was surprised by it, and wanted to know if Zillow is an acceptable way to show value.

[pushbrk 12,806]

20 minutes ago, Deang6 said:

I'm not the original poster. I'm a different person who saw Family's suggestion to use Zillow, was surprised by it, and wanted to know if Zillow is an acceptable way to show value.

I see.  That's why hijacking is not allowed.

[Ontarkie 14,190]

~~Hijack post and all related replies have been split off to their own thread. Please do not post questions about your own case in other member's thread.~~

[Deang6 2]

25 minutes ago, pushbrk said:

I see.  That's why hijacking is not allowed.

I did not hijack. I merely asked one simple question to Family's suggestion about using Zillow.  My question was on-topic and relevant for the original poster as well as for anyone else reading that thread.  I did not ask questions about my case. My question was to Family regarding his suggestion to the OP to use Zillow. Using Zillow did not sound right because it is different from I-864 instructions. It might have been bad advice to the original poster and I was trying to confirm whether it was good advice for them or bad. 

Edited March 19 by Deang6

[Family 3,988]

1 hour ago, Deang6 said:

I did not hijack. I merely asked one simple question to Family's suggestion about using Zillow.  My question was on-topic and relevant for the original poster as well as for anyone else reading that thread.  I did not ask questions about my case. My question was to Family regarding his suggestion to the OP to use Zillow. Using Zillow did not sound right because it is different from I-864 instructions. It might have been bad advice to the original poster and I was trying to confirm whether it was good advice for them or bad. 

For your peace of mind. the Zillow or free RE agent Comps have worked for I-864 and I-864 A and even when asset used was primary residence. 
The “ hijack” term sounds dark…but it’s not intended as such…certainly not in your case. …so don’t be put off and keep engaging.
 

[pushbrk 12,806]

12 minutes ago, Family said:

For your peace of mind. the Zillow or free RE agent Comps have worked for I-864 and I-864 A and even when asset used was primary residence. 
The “ hijack” term sounds dark…but it’s not intended as such…certainly not in your case. …so don’t be put off and keep engaging.
 

Nothing wrong with showing equity in a primary residence.  It just won't be considered FULLY as it is NOT liquid.  Consular Officers are trained to consider totality of circumstances though and having now mortgage payment, is certainly a major circumstance to be considered.

 

This case is an investment property though, so IS considered liquid.

 

Whether you LIKE the term HIJACK or not, what happened, is why your topic got split from the one hijacked.  Your case got confused with another.