Profile picture for arey969

Bank is asking for a second Apprisal

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
 
  • 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.
  • August 13 2009
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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. 
  • August 13 2009
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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.
  • August 13 2009
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