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Answers (6)
- Shari Hooks (S), "Shari Hooks"
- Contributions:73
The questions may be old, folks, but the answers are current. The answers are available for buyers, sellers and refinancers who currently have the same question.
- Sharon Lewis, "Sharon Lewis"
- Contributions:3917
This is an old posting from 2009, please try to keep things current!
- Shari Hooks (S), "Shari Hooks"
- Contributions:73
Aloha. It's all about Qs and As, or FAQs. Obviously the response wasn't timely for this inquiry, but many people have the same question (even now). It could have been an appraisal for a refi, or another reason. The question is very generic; a detailed answer would need a detailed question. Thank you. :-)
- Shari Hooks (S), "Shari Hooks"
- Contributions:73
If you are not in a time crunch, you can request a second appraisal or appraisal review. This can delay the process, but may pay off. You can ask your real estate agent to provide the loan officer with additional comps that support your price. Don't forget- the buyer can also be asked to pay over appraised value. This does not work well for over-priced properties, but rather in high demand areas where buyer and seller both agree that the property is of more value than the appraisal. Your loan officer can help answer questions about what other options you may have.
- Andrew Adams, "203K Specialist"
- Contributions:9349
Do you feel they did a bad Job? If So, what in your opinion was done wrong?
- Sherri Sherpy, "MN Mortgage Mom"
- Contributions:476
Talk to your loan officer. There is recourse/adjustments/explanations that can be requested from the appraiser. The issues, if legitimate, can also be escalated to a higher level of appraisal review.
If the appraise did a bad job of appraising my Home, What should I do,
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