Bank is asking for a second Apprisal

Profile picture for arey969
I feel getting run around
Pud/Townhome 115,000  1325SQFeet 3 bed bath 2.5  built in 2005 in rialto, ca
Bank is Asking for a second APPRISAL  and to recheck the comps.
APPRISAL July 25, 2009
New Apprisl is been done today or friday AUG 12, 2009
 
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August 13 2009 - Rialto
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Answers (3)

Profile picture for soonah
If the bank is asking for a 2nd appraisal, they should pay for this. Hopefully you know this.

The market is inflated by nearly 41% in California, and over the last month the market has been attempting to correct itself, which will continue to happen over the next five years. Be patient, they are not giving you a run around, the market values are changing drastically every 30 days.
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August 13 2009
Profile picture for 8K Tax Credit!
If you do not feel there is an issue with your value then do not worry...especially if the bank is paying for the second appraisal.  Take a walk around your neighborhood and see what the other townhomes are selling for.  That will give you a good idea on what your place is worth.  Good luck. 
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August 13 2009
Profile picture for DebtsNMesses
They seem to like doing the appraisals very close to closing at the moment... since you NEED a loan, oh well, guess you gotta do it.
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August 13 2009
 

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