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If the appraise did a bad job of appraising my Home, What should I do,

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August 25 2009 - Waipahu
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Answers (6)

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.
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March 28 2011
This is an old posting from 2009, please try to keep things current!
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March 28 2011
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. :-)
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March 28 2011
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. 
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March 28 2011
Do you feel they did a bad Job?  If So, what in your opinion was done wrong?
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August 25 2009
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. 
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August 25 2009
 
Related Questions
If the appraise did a bad job of appraising my Home, What should I do,
Profile picture for Shari Hooks (RA)
Latest answer by Shari Hooks (RA)
March 28 2011 | 6 answers
  • Asked by itevaga
  • In Mortgage
  • August 25 2009
Mortgage Rates
 
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