4 ms·
As an example of above, A couple of years ago my wife and I were selling our home and the appraisal came back lower than agreed sale price, we asked appraiser t
by bshep 10y ago
As an example of above, A couple of years ago my wife and I were selling our home and the appraisal came back lower than agreed sale price, we asked appraiser to pick different comparables and the appraised price went up 10-20k
- arthurgibson 10y agoThats interesting, why would the seller have any control over the appraisal? The mortgage broker who requests the appraisal is typically working with the buyer.
- cema 10y agoI don't think this is "control", the appraiser [sp?] did not have to agree to do that.
- bshep 10y agoYou are correct they didnt have to agree to change anything. But there were other houses that were closer ( one of the comparables that he pcked was in a different neighborhood and was waaay cheaper ) and houses that were more similar so we pointed that out. He agreed and redid the estimate with houses that were closer both on distance and in size/amenities. All of this was throught the realtors ours and theirs.
- smsm42 10y agoTrue, but the appraiser has zero incentive to disagree (unless it's overtly fraudulent there's no such thing as wrong appraisal) and probably some incentive (repeat business) to keep the agent they are working with happy.