Prefer to talk in person? Find a mortgage specialist on Zillow
Profile picture for user4979563

Lenders and Appraisals

My property was appraised for a lender 3 weeks ago.  If the same appraisal outfit is used to appraise my property by a different lender within in the next week or two should I expect the same result?
  • July 19 2012 - Boise
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (5)

No, you should not expect the same result.  The appraisal is based on a snapshot in time and the snapshot is different three weeks later.

The Boise market is very strong right now so new sales may be available for consideration that were not available three weeks ago.

Appraisals are not the exact science a lot of people think they are.  The basic premise of whether distressed sales are included or excluded from the "comparable" sales/listings will have a HUGE impact on the valuation.

Some appraisers consider "seller sales concessions" (i.e. seller paying some of the buyer's selling costs) to be part of the market and others don't.  Therefore, on a $200,000 home with a 3% concession could mean the difference if they make a $6000 adjustment or not!

Best of Luck!
Jim Paulson
[phone number removed by Zillow moderator due to spam.]
  • July 19 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Depends on the price range.... you are talking a $3.0M custom home or a $150K home ?

An AMC send myself and another appraiser to appraise a property in Beverly Hills. We varied by $400K.

So every situation is different. Bottom line, try to understand your comps in your area, and try to learn to read the appraisal and understand why the appraiser - who in essence wortks for the lender - values a property like they do.



  • July 19 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for emtjweber
Yes but appraisals are supposed to be ordered blind.   So not sure you can get the same appraiser.
  • July 19 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for daveskow
  1) are you certian that the new lender can use the previous apprisal  2) are you certian that the intial lender is  OK with a new lender using the appraisal  they ordered ?

  • July 19 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

I would expect the result to be the same.   Why don't you see if the current appraisal can be transferred to the new lender?   If the old lender and this new lender are using the same appraisal management company, this should be no problem.
  • July 19 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.