Any other realtors running into appraisal problems?
I had a home last month where it took 3 weeks to get appraisal, caused the closing to move back a couple days.
Another just had an appraisal come back $35K (8%) under sell price. The original appraisal came at the sell price of $435, but someone on their team had the appraiser add in two comps that were significantly lower then the others it dropped it to $400K. I sent them actual comps and proof that the two added are jokes of a comp, but they didn't budge. This essentially kills the deal because the gap is too large for a seller to want to come own that much and my buyers can't front the extra costs.
I had a home last month where it took 3 weeks to get appraisal, caused the closing to move back a couple days.
Another just had an appraisal come back $35K (8%) under sell price. The original appraisal came at the sell price of $435, but someone on their team had the appraiser add in two comps that were significantly lower then the others it dropped it to $400K. I sent them actual comps and proof that the two added are jokes of a comp, but they didn't budge. This essentially kills the deal because the gap is too large for a seller to want to come own that much and my buyers can't front the extra costs.