How soon can we refinance & will they use the current appraisal?

Financing, Hard Money Lenders, Private Money
1

My Father and I are buying a property with cash and would like to know how soon we are able to refinance to get our cash back? We did have an appraisal done and are hoping after some slight repairs it will appraise for slightly more.

When we do refinance will the bank see we have had an appraisal recently and go off of that appraisal or do a new one?

The purchase price is $42500 and we are hoping to get most of that back when we refinance. About what can we expect in fees for a refi on that amount. We both have good credit, etc.

Thanks,

2

We bought a house with cash and re-fi’d it after the rehab. It’s on a commercial loan and there were no seasoning requirements or anything like that.
Up to the bank what they decide for appraisal. Our banker usually does a drive by appraisal and that’s all we need.
Once again, fees will be bank specific. We’re usually charged a couple hundred in bank fees. A lawyer may have to do title work again depending on the length of time you’re talking about.