The bridge-loans often refers to aninvestment that may be in transition and does not yet qualify for traditional financing, whereas hard money often refers to not only an asset-based loan with a high interest rate, but possibly a distressed financial situation such as arrears on the existing mortgage or where bankruptcyand foreclosure are occurring.Special handling of the appraisal process by the appraiser is highly important. Tensions may be high in stressful foreclosure, default and short sale situations. The appraiser must use more than common courtesy in these situations and must have honed people skills to defuse confrontations in the most critical situations. Always use an appraiser with extensive experience in these types of appraisals. It makes a world of difference. Both hard money lenders and bridge-loan lenders often require an AS-IS appraisal in the case of a fixer property in disrepair. They may also want an estimated Projected Post-Renovation price within the same appraisal report. Also knows as an ARV (After Repair Value). The appraiser must analyze similar fixer comps in the subject market area but also must analyze recently remodeled, renovated and rehabbed sales in the area to make an accurate opinion conclusion regarding what the subject fixer property may be worth once all renovation and upgrades are completed. The bridge-loan may be used for the purchase of the fixer property and may include funding necessary to make the repairs and upgrades to the same property. The lender will then know whether or not the cost of the needed repairs will be supported by the market and an approximate resell price to expect after the renovation. Without an experienced appraiser providing this expertise, the lender may be partially guessing at the results; a difficult way to stay in business. Hire an appraiser who is highly experienced in hard money lender appraisals and in bridge-loan appraisals. Get an accurate ARV you can rely on.